Tax Analysts Give Thumbs Up to Bush Plan | AccountingWEB

Tax Analysts Give Thumbs Up to Bush Plan

The Joint Committee on Taxation, a non-partisan group that provides all the estimates of the cost of tax legislation on Capital Hill, has given thumbs up to Bush and thumbs down to Gore with regard to tax legislation the two candidates are proposing in their campaign speeches.

According to documents released on Friday, the Joint Committee on Taxation, claims that George W. Bush’s tax proposals for a 10-year reduction in income tax have been detailed to the point that they are completely estimatable.

Al Gore’s tax proposals, which the Gore camp has estimated at costing $500 billion over a 10-year period, are too vague for the experts to calculate an estimated cost. Gore’s plan calls for health insurance tax credits, a cut in the estate tax, and education tax breaks. The Committee reports that the Gore plan requires “additional specification” before the experts can attempt to guess at what the plan would actually cost.

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