Tax Credit Bonds

Jason Peuquet — Fri, 19 Mar 2010 15:24:13 +0000

Date:

March 18, 2010

Who:

IRS

Policy Area:

Other

Economic Target:

Other

Action Type:

Tax Break

Maximum Amount:

2291000000

Amount Spent:

2291000000

Deficit Impact:

-160000000

The Hiring Incentives to Restore Employment Act included tax credits on qualifying bonds.

Also included in the Hire Act were provisions creating incentives for hiring unemployed workers.

Source:

CBO Cost Estimate of Hire Act

White House Release on the Act's Passage

Notes:

Maximum amount reflects the lost revenue from the tax provisions over a 10-year period. Deficit impact reflects the total net cost of the provision in proportion to the total net cost of -$1.1 billion for the bill. Offsets totaled $16.7 billion, stemming largely from foreign account tax compliance and a delay in implementing worldwide interest expense allocation until 2020.

Amount spent unknown.

Is not a top-level node

Stimulus.org - Other

Tax Credit Bonds