H.R. 3301 Would Cost $4.9 Billion, JCT Says

U.S. Joint Committee on Taxation

H.R. 3301, the Taxpayer Certainty and Disaster Tax Relief Act of 2019, would reduce revenue by $4.9 billion from 2019 to 2029, according to estimates released by the Joint Committee on Taxation June 18.

H.R. 3301, the Taxpayer Certainty and Disaster Tax Relief Act of 2019, would reduce revenue by $4.9 billion from 2019 to 2029, according to estimates released by the Joint Committee on Taxation June 18.

<a href="/lr/resolve//29mkt">H.R. 3301</a>, the Taxpayer Certainty and Disaster Tax Relief Act of 2019, would reduce revenue by $4.9 billion from 2019 to 2029, according to estimates (JCX-31-19) released by the Joint Committee on Taxation June 18. Extenders provisions concerning family and individual tax relief, economic development incentives, energy incentives, and provisions scheduled to expire at the end of this year would cost $33.2 billion, the JCT said. A provision accelerating the expiration of the increased estate and gift tax exemption would raise $37.6 billion. Disaster tax relief provisions would cost $9.3 billion, according to the JCT.

H.R. 3301, the Taxpayer Certainty and Disaster Tax Relief Act of 2019, would reduce revenue by $4.9 billion from 2019 to 2029, according to estimates (JCX-31-19) released by the Joint Committee on Taxation June 18. Extenders provisions concerning family and individual tax relief, economic development incentives, energy incentives, and provisions scheduled to expire at the end of this year would cost $33.2 billion, the JCT said. A provision accelerating the expiration of the increased estate and gift tax exemption would raise $37.6 billion. Disaster tax relief provisions would cost $9.3 billion, according to the JCT.