CBO Scores African Growth Bill's Shift of Corporate Tax Payments
APR. 21, 2015
CBO Scores African Growth Bill's Shift of Corporate Tax Payments
DOCUMENT ATTRIBUTES
- Institutional AuthorsCongressional Budget Office
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2015-9585
- Tax Analysts Electronic Citation2015 TNT 77-14
April 21, 2015
(by fiscal year, in millions of dollars)
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CHANGES IN DIRECT SPENDING
Increase Rate and Extend Collection of Merchandise Processing Fees
2015 2016 2017 2018 2019 2020 2021
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0 0 0 0 0 0 -162
2022 2023 2024 2025 2015-2020 2015-2025
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-873 -916 -962 -2,948 0 -5,861
CHANGES IN REVENUES
Extend African Growth and Opportunity Act
2015 2016 2017 2018 2019 2020 2021
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* -121 -130 -238 -284 -298 -312
2022 2023 2024 2025 2015-2020 2015-2025
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-329 -345 -365 -387 -1,071 -2,809
Extend General System of Preferences
2015 2016 2017 2018 2019 2020 2021
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-1,051 -627 -665 -173 0 0 0
2022 2023 2024 2025 2015-2020 2015-2025
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0 0 0 0 -2,516 -2,516
Extend Haiti HOPE Act
2015 2016 2017 2018 2019 2020 2021
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0 0 0 0 -12 -17 -75
2022 2023 2024 2025 2015-2020 2015-2025
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-97 -101 -106 -112 -29 -520
Shift Timing of Payment for Corporate Estimated Tax
2015 2016 2017 2018 2019 2020 2021
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0 0 0 0 0 3,781 -3,781
2022 2023 2024 2025 2015-2020 2015-2025
_____________________________________________________________________
0 0 0 0 3,781 0
Total, Changes in Revenues
2015 2016 2017 2018 2019 2020 2021
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-1,051 -748 -795 -411 -296 3,466 -4,168
2022 2023 2024 2025 2015-2020 2015-2025
_____________________________________________________________________
-426 -446 -471 -499 165 -5,845
NET INCREASES OR DECREASES (-) IN DEFICITS
Net Changes in Deficits
2015 2016 2017 2018 2019 2020 2021
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1,051 748 795 411 296 -3,466 4,006
2022 2023 2024 2025 2015-2020 2015-2025
_____________________________________________________________________
-447 -470 -491 -2,449 -165 -16
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Sources: Congressional Budget Office and the staff of the Joint
Committee on Taxation.
Notes:
Assumes enactment by July 1, 2015; * = between -$500,000 and zero.
HOPE = Hemispheric Opportunity through Partnership Encouragement.
For direct spending, a negative number indicates a decrease in
outlays; for revenues, a negative number indicates a reduction in
revenues.
CBO has not estimated the budgetary effects that implementing S. 1009
might have on future spending subject to appropriation.
Components may not sum to totals because of rounding.
Previous CBO estimate for trade-related programs in the 114th
Congress:
H.R. 1891, a bill to extend the African Growth and Opportunity
Act, the Generalized System of Preferences and the preferential
duty treament program for Haiti, and for other purposes on April
17, 2015.
DOCUMENT ATTRIBUTES
- Institutional AuthorsCongressional Budget Office
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2015-9585
- Tax Analysts Electronic Citation2015 TNT 77-14
