Summary: We estimate the budgetary effects of five major tax proposals included in Senator Michael Bennet’s “The Real Deal” tax plan over the 10-year budget window (2020 - 2029). More detailed summaries of the proposals can be found in our analysis of the estimate.
Table 1. Conventional Budget Estimates, Fiscal Years 2020-2029
Billions of Dollars, Change from Current-Law Baseline
| Provision | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | Budget Window |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1) Raise ordinary rates | 39 | 51 | 54 | 58 | 61 | 65 | 63 | 60 | 54 | 58 | 563 |
| 2) Raise the corporate tax rate | 62 | 84 | 98 | 103 | 106 | 107 | 115 | 125 | 126 | 125 | 1,052 |
| 3) Repeal Section 199A | 53 | 70 | 76 | 81 | 85 | 89 | 23 | 6 | 3 | 0 | 486 |
| 4) Tax capital income on a mark-to-market basis | 147 | 170 | 185 | 198 | 210 | 223 | 242 | 256 | 270 | 287 | 2,188 |
| 5) Raise the estate tax | 2 | 20 | 27 | 28 | 30 | 32 | 33 | 26 | 24 | 25 | 246 |
| Total | 303 | 396 | 440 | 468 | 492 | 517 | 475 | 472 | 477 | 495 | 4,535 |