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Tax Breaks vs. Budget Cuts

Programs at risk Tax breaks for the wealthy $11.2 billion $11.5 billion Per-year cost of recent tax cuts for millionaires' estates Early childhood programs $8.9 billion $8.9 billion Cost of allowing mortgage interest deduction for vacation homes (est. 10-year cost) Low-income housing programs $7.6 billion $6.7 billion Supplemental nutrition for poor families (WIC) Cost of "estate planning" techniques used by wealthy to avoid taxes $4.6 billion $5.2 billion Teacher training and afterschool programs Cost of removing limit on itemized deductions for high-income taxpayers, FY 2011 $4.1 billion $4.1 billion Job training for unemployed and new workers Cost of tax breaks for offshore operations of U.S. financial companies $2.5 billion $2.5 billion Low Income Home Energy Assistance (LIHEAP) grants to poor families Tax breaks for oil companies (write-offs for drilling and oil well costs, FY 2012) $2.5 billion $4.9 billion Cost of extending alcohol fuel tax breaks Community health centers $2.0 billion $2.3 billion Homeless Assistance Grants Tax loophole for managers of hedge funds and private equity funds (FY 2012) $420 million $312 million Legal services for the poor Cost of allowing companies to write off punitive damages (10 years) $317 million $303 million Title X Family Planning Cost of special tax breaks for the timber industry $44 billion $42 billion One-year cost of extending Bush tax cuts for top brackets (FY 2012) All programs at risk combined

Tax Breaks vs. Budget Cuts

shared by kcatoto on Dec 28
House leaders are unfortunately restricting their proposed budget cuts for the remainder of fiscal year 2011 to nonsecurity discretionary spending in an attempt to tame a $1.3 trillion deficit. This a...


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