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1 Robert Carroll & Mark Robyn, The Tax Savings from Fiscal Stimulus 1 (2009)

handle is hein.taxfoundation/ffbgbxz0001 and id is 1 raw text is: FOUNDATION February 2009 No. 161 FISCAL FACT The Tax Savings from Fiscal Stimulus By Robert Carroll and Mark Robyn The table below (Table 1) shows the tax savings for prototypical taxpayers under the major tax provisions included in the fiscal stimulus bills as approved by the House (I .R.598) and currently (as of this writing) under consideration by the Senate (S 350).Table 2 provides a brief description of the major tax provisions included in the two stimulus bills. As shown below, some taxpayers are set to receive a considerable tax cut from either of these bills with most of the tax benefit coming from the new Make Work Pay Credit and the American Opportunity Tax Credit, which replaces and expands the existing Hope credit for certain higher education expenses. The Senate bill also includes a higher AMT exemption (i.e., the so-called AMT patch).

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