Other Business
Net Carryback Loss Extension and Expansion
Date:
November 6, 2009
Who:
IRS
Policy Area:
Sector Policy (Non-Financial)
Economic Target:
Other Business
Action Type:
Tax Break
Maximum Amount:
$33.20 billion
Amount Spent:
$33.20 billion
Deficit Impact:
$0.06 billion This provision would reduce corporate taxes by extending net operating loss carryback rules under the stimulus act from two to five years.
Notes:
Maximum amount reflects the peak total loss in government revenue. Deficit impact based on CBO calculation of ten-year deficit impact (http://finance.senate.gov/sitepages/leg/LEG%202009/103009_CBO_Estimates.pdf).
Tax Provisions
Who:
IRS
Policy Area:
Fiscal Policy
Economic Target:
Other Business
Action Type:
Tax Break
Maximum Amount:
$420.00 billion
Amount Spent:
$244.40 billion
Deficit Impact:
$335.00 billion Provisions are part of the $787 billion "American Recovery and Reinvestment Act of 2009," a set of policies designed to mitigate the effects of the economic crisis. The act contains significant tax breaks for individuals and corporations, among other spending provisions.
Notes:
Positive numbers in table indicate spending, negative numbers indicate savings or revenue. Maximum amount is the peak cumulative cost of a provision over the period 2009-2019, though the provision may eventually cost less by 2019. Several tax provisions shift deductions for depreciation or other tax savings into the next several years. These are tax breaks that would normally be written off over a longer period of time. Much of the cost for these provisions is eventually made back in the "out" years, because it is the timing--not the amount--of an existing tax break that is being shifted. Deficit impact is the final cost of a provision from 2009-2019. Amount spent reflects CRFB calculated continuations of tax disbursal rates since last reported on Recovery.gov in June 2010, and extrapolated to the present by CRFB staff.
In the January 2010 baseline (http://www.cbo.gov/ftpdocs/108xx/doc10871/01-26-Outlook.pdf), CBO estimated that an additional $26 billion would be made available for the Build America Bond program under the Infrastructure Financing Tools of the "Other Tax Provisions" category.
Spending Provisions
Who:
Congress
Policy Area:
Sector Policy (Non-Financial)
Economic Target:
Other Business
Action Type:
Direct Spending
Maximum Amount:
$551.00 billion
Amount Spent:
$284.23 billion
Deficit Impact:
$521.00 billion Provisions are part of the $787 billion "American Recovery and Reinvestment Act of 2009," a set of policies designed to mitigate the effects of the economic crisis. The act contains significant spending for direct worker assistance, infrastructure, healthcare, education, aid to states, and other areas.
Notes:
Positive numbers in table indicate spending, negative numbers indicate savings or revenue. Maximum amount is the peak cumulative cost of a provision over the period 2009-2019. Deficit impact is taken from CBO's deficit impact calculation for 2009-2019. Amount Spent as of 8/18/2010 (http://www.recovery.gov/?q=/content/agency-summary&agency_code=75).
*In the Budget and Economic Update in August 2009 (http://cbo.gov/ftpdocs/105xx/doc10521/08-25-BudgetUpdate.pdf), CBO estimated that an additional $2 billion would be made available for Medicaid matches, increasing the maximum amount for Health Care Spending.
In the January 2010 baseline (http://www.cbo.gov/ftpdocs/108xx/doc10871/01-26-Outlook.pdf), CBO estimated that the total cost of the bill would total $862 billion, after making several upward revisions (including $21 billion more for unemployment insurance, $34 billion more for food stamps, and $3 billion less for Medicaid state matching).
The state aid bill that was passed on August 10th, 2010 included a provision that ended the one-time food stamp benefit increase in March 2014. CBO previously estimated that it would not end until 2018. Their estimate of the bill expected the provision to save about $7 billion, reducing the total cost to $855 billion.
Temporary Corporate Tax Cuts
Date:
February 13, 2008
Policy Area:
Fiscal Policy
Economic Target:
Other Business
Action Type:
Tax Break
Maximum Amount:
$51.00 billion
Amount Spent:
$51.00 billion
Deficit Impact:
$7.50 billion This law (H.R. 5140) included two provisions aimed at providing temporary tax breaks for businesses. The first provision allowed businesses to deduct 50 percent of their investments in certain depreciable property (e.g. equipment and computer software) from 2008 taxable income. The second provision increased the expensing allowance for depreciable business assets up to $250,000 and increased the maximum phase-out threshold for the allowance to $800,000.
Source:
Corporate Tax Breaks
Date:
February 17, 2009
Who:
IRS
Policy Area:
Fiscal Policy
Economic Target:
Other Business
Action Type:
Tax Break
Maximum Amount:
$76.00 billion
Amount Spent:
$39.00 billion
Deficit Impact:
$6.00 billion Provisions are part of the $787 billion "American Recovery and Reinvestment Act of 2009," a set of policies designed to mitigate the effects of the economic crisis. The act contains significant spending for direct worker assistance, infrastructure, healthcare, education, aid to states, and other areas, and tax breaks for individuals and corporations.
Notes:
Positive numbers in table indicate spending, negative numbers indicate savings or revenue. Maximum amount is the peak cumulative cost of a provision over the period 2009-2019, though the provision may eventually cost less by 2019. Several tax provisions shift deductions for depreciation or other tax savings into the next several years. These are tax breaks that would normally be written off over a longer period of time. Much of the cost for these provisions is eventually made back in the "out" years, because it is the timing--not the amount--of an existing tax break that is being shifted. Deficit impact is the final cost of a provision from 2009-2019. Amount spent reflects CRFB calculated continuations of disbursal rates since last reported on Recovery.gov in June 2010, and extrapolated to the present by CRFB staff.
SBA Actions Promoting Small Business Lending
Date:
March 16, 2009
Who:
SBA
Policy Area:
Sector Policy (Non-Financial)
Economic Target:
Other Business
Action Type:
Regulatory Change Programs are part of a package of government actions by the Treasury Department and Small Business Administration (SBA) on March 16, 2009 to promote small business lending.
These measures include:
• Eliminating borrower and lender fees for SBA-backed 504 loans, which combines government-backed loans with private mortgage loans to support community development.
• Eliminating up-front fees for SBA 7(a) loans.
Notes:
Costs of provisions are unknown.
Health Care Spending
Date:
February 17, 2009
Who:
Congress
Policy Area:
Sector Policy (Non-Financial)
Economic Target:
Other Business
Action Type:
Direct Spending
Maximum Amount:
$146.00 billion
Amount Spent:
$71.31 billion
Deficit Impact:
$126.00 billion Provisions are part of the $787 billion "American Recovery and Reinvestment Act of 2009," a set of policies designed to mitigate the effects of the economic crisis. The act contains significant spending for direct worker assistance, infrastructure, healthcare, education, aid to states, and other areas, and tax breaks for individuals and corporations.
Notes:
Positive numbers in table indicate spending, negative numbers indicate savings or revenue. Maximum amount is the peak cumulative cost of a provision over the period 2009-2019. Deficit impact is taken from CBO's deficit impact calculation for 2009-2019. Amount Spent as of 8/18/2010 (http://www.recovery.gov/?q=/content/agency-summary&agency_code=75).
*In the Budget and Economic Update in August 2009 (http://cbo.gov/ftpdocs/105xx/doc10521/08-25-BudgetUpdate.pdf), CBO estimated that an additional $2 billion would be made available for Medicaid matches, increasing the maximum amount for Health Care Spending. However, in the January 2010 baseline (http://www.cbo.gov/ftpdocs/108xx/doc10871/01-26-Outlook.pdf), CBO estimated that total Medicaid matching will be $3 billion lower.
Infrastructure
Date:
February 17, 2009
Who:
Congress
Policy Area:
Fiscal Policy
Economic Target:
Other Business
Action Type:
Direct Spending
Maximum Amount:
$139.00 billion
Amount Spent:
$44.23 billion
Deficit Impact:
$139.00 billion Provisions are part of the $787 billion "American Recovery and Reinvestment Act of 2009," a set of policies designed to mitigate the effects of the economic crisis. The act contains significant spending for direct worker assistance, infrastructure, healthcare, education, aid to states, and other areas, and tax breaks for individuals and corporations.
Notes:
Positive numbers in table indicate spending, negative numbers indicate savings or revenue. Maximum amount is taken from CBO's calculation of budget authority over the 2009-2019 period. Deficit impact is taken from CBO's deficit impact calculation for 2009-2019. Amount spent as of 8/18/2010. Individual provisions may include some smaller specific measures not directly related to infrastructure spending, but these items do not significantly alter total figures.
*In CBO's January 2010 Budget and Economic Outlook, it revised its cost estimates for infrastructure down by $3 billion, bringing the total cost to $139 billion.
