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H.R. 3638, Act for the 99% in The Taxpayer's Tab
January 13, 2012
Did you miss this week's issue of NTUF's Taxpayer's Tab? If so, you missed quite a bit. Here's a quick recap.
This week, NTUF highlighted its analysis of H.R. 3638, Act for the 99%.
Annualized Cost: $81.7 billion ($408.6 billion over five years)
The goal of the 264-page Act for the 99% is to help American workers keep their jobs or find new jobs if they are currently unemployed. The bill would increase domestic spending on a number of new jobs programs while making cuts in defense spending. H.R. 3638 also increases tax rates for some taxpayers, extends tax credits for certain individuals, and eliminates tax incentives for certain corporations.
Here are just a few of the bill's proposals:
NTUF estimates the Act for the 99% would result in $408.6 billion in new spending over the next five years -- a net of $456.3 billion in proposed spending and $47.7 billion in savings.
For more details, read the entire Taxpayer's Tab online.
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