The Center for Budget and Policy Priorities (CBPP) has done an analysis that shows that the tax cuts specified in Chairman Paul Ryan’s plan would cost nearly $6 trillion in lost revenue. They would require Ryan’s unspecified tax expenditure reductions to be equally large in order to reach his revenue-neutrality goal.
Among the tax cuts are:
Cutting the top corporate tax rate from 35 to 25 percent, at a cost of about $1.2 trillion.
Chairman Ryan’s proposal to cut the top individual tax rate to 25 percent and repeal the AMT, at a cost of $3.8 trillion.
Repealing the revenue provisions in the ACA. As Chairman Ryan’s staff confirmed, the Ryan budget would repeal “all of [the ACA’s] tax increases.
Chairman Ryan disagreed with the nearly $6 trillion figure, claiming that the number was based on “made up assumptions.” But CBPP simply reported the cost estimates of the nonpartisan Urban Institute-Brookings Tax Policy Center.