JCT Estimates Effects of 2 Trade Bills
JUN. 12, 2015
JCX-91-15
DOCUMENT ATTRIBUTES
- Institutional AuthorsJoint Committee on Taxation
- Cross-Reference
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2015-13883
- Tax Analysts Electronic Citation2015 TNT 114-65
Citations: JCX-91-15
JOINT COMMITTEE ON TAXATION
June 12, 2015
JCX-91-15
Fiscal Years 2016 - 2025
[Millions of Dollars]
______________________________________________________________________
Provision Effective
______________________________________________________________________
H.R. 644, the "Trade Facilitation and Trade
Enforcement Act of 2015"
1. Increase in penalty for failure to
file return of tax rrtbficya 2015
2016 2017 2018 2019 2020 2021 2022
______________________________________________________________________
5 19 20 21 21 22 22
2023 2024 2025 2016-20 2016-25
______________________________________________________________________
23 24 25 86 202
H.R. 1314, the "Trade Act of 2015"
1. Extension and modification of the
Health Coverage Tax Credit
(sunset 12/31/19)1 cmi tyba 12/31/13
2016 2017 2018 2019 2020 2021 2022
______________________________________________________________________
-47 -45 -35 -35 -12 --- ---
2023 2024 2025 2016-20 2016-25
______________________________________________________________________
--- --- --- -173 -173
2. Child tax credit not refundable for
taxpayers electing to exclude foreign
earned income from tax1 tyba 12/31/14
2016 2017 2018 2019 2020 2021 2022
______________________________________________________________________
38 36 35 28 27 26 26
2023 2024 2025 2016-20 2016-25
______________________________________________________________________
25 26 26 165 293
3. Increase the amount of any
required installment of corporate
estimated tax otherwise due in
July, August, or September of
2020 by 2.75 percent for
corporations with assets
of at least $1 billion DOE
2016 2017 2018 2019 2020 2021 2022
______________________________________________________________________
--- --- --- --- 1,980 -1,980 ---
2023 2024 2025 2016-20 2016-25
______________________________________________________________________
--- --- --- 1,980 ---
Total of H.R. 1314
2016 2017 2018 2019 2020 2021 2022
______________________________________________________________________
-9 -9 --- -7 1,995 -1,954 26
2023 2024 2025 2016-20 2016-25
______________________________________________________________________
25 26 26 1,972 120
______________________________________________________________________
Joint Committee on Taxation
NOTE: Details may not add to totals due to rounding. The date of
enactment is assumed to be July 1, 2015.
Legend for "Effective" column:
cmi = coverage months in
rrtbficya = returns required to be filed in calendar years after
DOE = date of enactment
tyba = taxable years beginning after
FOOTNOTE TO TABLE
1 Estimate includes the following outlay effects:
Extension and modification of the
Health Coverage Tax Credit
2016 2017 2018 2019 2020 2021 2022
______________________________________________________________________
5 20 28 28 7 --- ---
2023 2024 2025 2016-20 2016-25
______________________________________________________________________
--- --- --- 87 87
Child tax credit not refundable
for taxpayers electing to exclude
foreign earned income from tax
2016 2017 2018 2019 2020 2021 2022
______________________________________________________________________
38 36 35 28 27 26 26
2023 2024 2025 2016-20 2016-25
______________________________________________________________________
25 26 26 165 293
END OF FOOTNOTE TO TABLE
DOCUMENT ATTRIBUTES
- Institutional AuthorsJoint Committee on Taxation
- Cross-Reference
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2015-13883
- Tax Analysts Electronic Citation2015 TNT 114-65