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    SA4333Summary (6 10)

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    This document provides a preliminary estimate of the budgetary effects of Senate Amendment 4333, which is a substitute bill for H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010. It estimates the changes in revenues and direct spending, as well as the net increase or decrease in budget deficits, for each fiscal year from 2010 to 2020. The estimates show an overall reduction in revenues and an increase in direct spending, leading to higher budget deficits under this legislation.

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    SA4333Summary (6 10)

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    api-27836025
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    This document provides a preliminary estimate of the budgetary effects of Senate Amendment 4333, which is a substitute bill for H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010. It estimates the changes in revenues and direct spending, as well as the net increase or decrease in budget deficits, for each fiscal year from 2010 to 2020. The estimates show an overall reduction in revenues and an increase in direct spending, leading to higher budget deficits under this legislation.

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    SA4333Summary(6-10)

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    This document provides a preliminary estimate of the budgetary effects of Senate Amendment 4333, which is a substitute bill for H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010. It estimates the changes in revenues and direct spending, as well as the net increase or decrease in budget deficits, for each fiscal year from 2010 to 2020. The estimates show an overall reduction in revenues and an increase in direct spending, leading to higher budget deficits under this legislation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    14 views1 page

    SA4333Summary (6 10)

    Uploaded by

    api-27836025
    This document provides a preliminary estimate of the budgetary effects of Senate Amendment 4333, which is a substitute bill for H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010. It estimates the changes in revenues and direct spending, as well as the net increase or decrease in budget deficits, for each fiscal year from 2010 to 2020. The estimates show an overall reduction in revenues and an increase in direct spending, leading to higher budget deficits under this legislation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Preliminary Estimate of the Budgetary Effects for Senate Amendment 4333, a Substitute for H.R.

    4213, the American Jobs


    and Closing Tax Loopholes Act of 2010
    (As introduced on June 9, 2010)

    (Millions of dollars, by fiscal year) June 10, 2010

    2010- 2010- 2010- 2010-


    2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2014 2015 2019 2020

    CHANGES IN REVENUES

    TOTAL CHANGES IN REVENUES 1/ -7,384 -14,934 137 889 100 595 1,124 1,874 1,448 283 792 -21,192 -20,597 -15,877 -15,085
    On-budget revenues -7,384 -15,083 -217 520 -16 287 987 1,850 1,317 462 841 -22,180 -21,893 -17,286 -16,445
    Off-budget revenues 0 149 354 369 116 308 137 24 131 -179 -49 988 1,296 1,409 1,360

    CHANGES IN DIRECT SPENDING (OUTLAYS)

    Title II—Extensions of Expiring Provisions 3,302 1,363 0 0 0 0 0 0 0 0 0 4,664 4,664 4,664 4,664

    Title III—Pension Funding Relief 0 0 -75 -125 -200 -275 -125 -100 -25 100 150 -400 -675 -825 -675

    Title IV—Revenue Offsets -8,130 -19,145 -27,010 -24,004 -13,003 -7,001 -4,501 -3,501 -3,300 -1,800 -1,700 -91,292 -98,293 -111,395 -113,095

    Title V—Unemployment, Health, Other Assistance


    Subtitle A--Unemployment/Other 12,245 26,625 0 0 0 0 0 0 0 0 0 38,870 38,870 38,870 38,870
    Subtitle B--Health Provisions 3,676 16,666 22,564 2,929 -6,555 -6,963 -7,704 -6,989 -6,323 -6,630 -6,893 39,282 32,319 4,674 -2,219
    Total (Title V) 15,921 43,291 22,564 2,929 -6,555 -6,963 -7,704 -6,989 -6,323 -6,630 -6,893 78,152 71,189 43,544 36,651

    Title VI—Other Provisions 485 1,149 582 103 20 24 25 26 26 27 27 2,339 2,363 2,467 2,494

    TOTAL CHANGES IN OUTLAYS 11,578 26,658 -3,939 -21,097 -19,738 -14,215 -12,305 -10,564 -9,622 -8,303 -8,416 -6,537 -20,752 -61,545 -69,961

    NET INCREASE OR DECREASE (-) IN DEFICITS FROM REVENUES AND DIRECT SPENDING

    NET CHANGES IN DEFICITS 2/ 18,962 41,592 -4,076 -21,986 -19,838 -14,810 -13,429 -12,438 -11,070 -8,586 -9,208 14,655 -155 -45,668 -54,876
    On-budget deficit change 18,962 41,741 -3,722 -21,617 -19,722 -14,502 -13,292 -12,414 -10,939 -8,765 -9,257 15,643 1,141 -44,259 -53,516
    Off-budget deficit change 0 -149 -354 -369 -116 -308 -137 -24 -131 179 49 -988 -1,296 -1,409 -1,360

    Sources: Congressional Budget Office and the staff of the Joint Committee on Taxation.

    Notes:

    Components may not sum to totals because of rounding.

    Senate Amendment 4333 would specify all provisions of the legislation, except section 511 pertaining to Medicare payments to physicians, as an emergency
    requirement pursuant to section 4 (g) of the Statutory Pay-As-You-Go Act of 2010.

    1. Negative numbers denote a DECREASE in federal revenues; positive numbers denote an increase in revenues.

    2. Positive numbers denote an INCREASE in the budget deficit; negative numbers denote a decrease in the deficit.

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