Cost of Tax Cuts
National Priorities Project created CostofTaxCuts.com to help people understand the long-term financial impact of Bush-era tax policy – especially as it related to the wealthiest Americans. The site focused on tax breaks for the wealthiest 5 percent of Americans.
On Jan. 1, 2013, lawmakers passed the fiscal cliff deal, officially called the American Taxpayer Relief Act of 2012. That legislation allowed the Bush-era tax cuts to expire for families making over $450,000 and individuals making over $400,000 – or roughly the wealthiest 1 percent of taxpayers. The deal raised an additional $620 billion in tax revenue over a decade, as compared to a permanent extension of all the Bush-era tax cuts.
The findings and all background material will be archived on NPP's main website. Stay tuned by signing up for our weekly updates.