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Text File  |  1993-02-17  |  1KB  |  25 lines
  1. REV-06 ELIMINATE OR LIMIT DEDUCTIONS OF STATE AND LOCAL TAXES
  2.  
  3.                                 Annual Added Revenues
  4.                                 (Billions of dollars)             Cumulative
  5. Addition to          -----------------------------------------    Five-Year
  6. CBO Baseline         1994     1995      1996     1997     1998     Addition
  7. ---------------------------------------------------------------------------
  8. Eliminate Deduction of
  9. State and Local Taxes 15.8     39.4      41.2     44.5     47.2      188.1
  10.  
  11. Limit Deductions
  12. to the Excess Over
  13. 1 Percent of Adjusted
  14. Gross Income           1.8      6.0       6.5      6.9      7.3       28.4
  15.  
  16. Prohibit Deductibility of
  17. Taxes Above a Ceiling of
  18. 9 Percent of Adjusted
  19. Gross Income           1.7      5.7       6.2      6.5      7.2       27.4
  20.  --------------------------------------------------------------------------
  21.  
  22. SOURCE:  Joint Committee on Taxation.
  23.  
  24. ---------------------------------------------------------------------------
  25.