What the Debt Deal Costs

What the Debt Deal Costs Here are the likely cuts Here's what Congress protected Discretionary programs Tax breaks $650 billion $690 billion Bush tax cuts for the wealthiest Special education, student aid, and assistance to low-income schools 2 percent $310 billion $321 billion National Institutes of Health Extra benefits top-bracket taxpayers receive from itemized deductions $100 billion $129 billion Center for Disease Control and Subsidies for foreign profits Food and Drug Administration $98 billion $97.5 billion Head Start and child care Subsidies for business inventories program supports $47 billion $44 billion Subsidies for oil and gas companies Energy grants to help low-income families afford heat $20 billion $21.4 billion Job training for unemployed adults Carried interest loophole for hedge fund and private equity fund managers $11 billion $10 billion After school tutoring programs Tax break on loans for vacation homes and yachts Source: General Explanation of the Administration's FY 2012 Revenue Proposals (Department of Treasury, 2011); Congressional Budget Office, "Reducing the Deficit: Spending and Revenue Options" (2011); authors' calculations based on Congressional Budget Office, "Budget Options" (2000). Center for American Progress www.americanprogress.org