Republican Tax Cut Costs Much More Than Obama’s: BGOV Barometer

Competing plans from President Barack Obama and House Republicans for extending the Bush-era tax cuts differ by $68 billion in what they would cost the Treasury in lost revenue.

The BGOV Barometer shows Obama’s call for Congress to pass a one-year extension of the cuts for families making less than $250,000 annually would cost the U.S. $358 billion in forgone tax revenue for a year. That compares with $426 billion from a Republican plan to extend cuts for all earners, according to an analysis by the nonpartisan Joint Committee on Taxation requested by Senate Finance Committee Republicans.