JCT Estimates H.R. 3630 Conference Report Would Cost $93.2 Billion
FEB. 16, 2012
JCX-17-12
DOCUMENT ATTRIBUTES
- Institutional AuthorsJoint Committee on Taxation
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2012-3363
- Tax Analysts Electronic Citation2012 TNT 33-30
Citations: JCX-17-12
JOINT COMMITTEE ON TAXATION
February 16, 2012
JCX-17-12
ESTIMATED REVENUE EFFECTS OF THE REVENUE PROVISIONS CONTAINED IN
THE CONFERENCE AGREEMENT FOR H.R. 3630, THE "MIDDLE CLASS TAX RELIEF
AND JOB CREATION ACT OF 2012"
Fiscal Years 2012 - 2022
[Millions of Dollars]
_____________________________________________________________________
Provision Effective
_____________________________________________________________________
Extension of the Payroll Tax Holiday
(sunset 12/31/12)1 2
2012 2013 2014 2015 2016 2017
_____________________________________________________________________
-70,133 -23,086 --- --- --- ---
2018 2019 2020 2021 2022 2012-17 2012-22
_____________________________________________________________________
--- --- --- --- --- -93,219 -93,219
Repeal of Shifts in the Timing of Corporate Estimated
Tax Payments DOE
2012 2013 2014 2015 2016 2017
_____________________________________________________________________
-235 235 -28,993 -1,196 30,189 ---
2018 2019 2020 2021 2022 2012-17 2012-22
_____________________________________________________________________
--- -4,555 4,555 --- --- --- ---
NET TOTAL
2012 2013 2014 2015 2016 2017
_____________________________________________________________________
-70,368 -22,851 -28,993 -1,196 30,189 ---
2018 2019 2020 2021 2022 2012-17 2012-22
_____________________________________________________________________
--- -4,555 4,555 --- --- -93,219 -93,219
_____________________________________________________________________
Joint Committee on Taxation
NOTE: Details may not add to totals due to rounding. The date of
enactment is assumed to be prior to March 1, 2012.
FOOTNOTES TO TABLE
1 Estimate includes the following effects:
Total Revenue Effects
2012 2013 2014 2015 2016 2017
_____________________________________________________________________
-70,133 -23,086 --- --- --- ---
2018 2019 2020 2021 2022 2012-17 2012-22
_____________________________________________________________________
--- --- --- --- --- -93,219 -93,219
On-budget effects
2012 2013 2014 2015 2016 2017
_____________________________________________________________________
748 541 --- --- --- ---
2018 2019 2020 2021 2022 2012-17 2012-22
_____________________________________________________________________
--- --- --- --- --- 1,289 1,289
Off-budget effects
2012 2013 2014 2015 2016 2017
_____________________________________________________________________
-70,881 -23,627 --- --- --- ---
2018 2019 2020 2021 2022 2012-17 2012-22
_____________________________________________________________________
--- --- --- --- --- -94,508 -94,508
2 Effective for remuneration received, and taxable years
beginning, after December 31, 2011.
END OF FOOTNOTES TO TABLE
DOCUMENT ATTRIBUTES
- Institutional AuthorsJoint Committee on Taxation
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2012-3363
- Tax Analysts Electronic Citation2012 TNT 33-30
