What the Tax Cuts Cost

President Bush enacted a series of tax cuts in 2001, and in 2010 President Obama extended those tax cuts with a new sunset date of Dec. 31, 2012.

Some members of Congress propose making them permanent.

Cost to the U.S. Treasury from Tax Cuts 
for the Wealthiest Five Percent:

First decade of Bush tax cuts, 2001-2010:

$955 billion

Obama extension, 2011-2012:

$229 billion

Proposed extension, 2013-2021:

$2.02 trillion

Total cost, 2001-2021:

$3.2 trillion

                                          

                
Source: 
Citizens for Tax Justice, Joint Committee on Taxation, and Congressional Budget Office. 

Figures do not include interest payments on debt incurred.

With the help of Citizens for Tax Justice, National Priorities Project is tracking every dollar the U.S.
Treasury loses from tax breaks for the wealthiest
5 percent—American families and individuals who in 2011 made at least $176,000 and on average $477,453.