- Limit deductions for top earners to 28 percent rate, even if income is taxed at 39.6 percent: $603.2 billion
- Impose a 14 percent one-time tax on previously untaxed foreign income: $268.1 billion
- Impose a 19 percent minimum tax on foreign income: $206 billion
- Modify estate and gift tax provisions: $214.4 billion
- Change the taxation of capital income: $207.9 billion
- Other increases from reform of U.S. international tax system: $135.8 billion
- Impose a financial fee on large financial companies: $111.8 billion
- Increase tobacco taxes and index for inflation: $95.1 billion
- Repeal LIFO (Last In First Out) method of accounting for inventories: $76.1 billion
- Conform SECA (Self Employed Contributions Act) taxes for professional service businesses: $74.6 billion
- Other revenue changes and loophole closers: $47.9 billion
- Eliminate oil and natural gas preferences: $45.5 billion
- Implement the Buffett Rule by imposing a new “Fair Share Tax” (making millionaires pay at least 30 percent tax rate): $35.2 billion
- Reform the treatment of financial and insurance industry products: $34.4 billion
- Limit the total accrual of tax-favored retirement benefits: $26.0 billion
- Other loophole closers: $24.3 billion
- Reinstate Superfund taxes: $21.2 billion
- Tax carried interests as ordinary income: $17.7 billion
- Make unemployment insurance surtax permanent: $15.7 billion
- Eliminate coal preferences: $4.3 billion
- Reauthorize special assessment from domestic nuclear utilities: $2.3 billion
- Increase and modify Oil Spill Liability Trust Fund financing: $1.6 billion
- Repeal tax-exempt bond financing of professional sports facilities: $542.0 million
Instead, Republican Speaker of the House John Boehner has indicated that Republicans will cut spending and propose a budget that gets the United States to a balanced budget within 10 years. Finally, the grown up's in Washington DC are in control; Thank God.
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