House GOP Plan (Tax Reform + 1 Million New Jobs) vs. President Obama’s Plan (Same Tax Code + $1.6 Trillion in Higher Taxes)

December 05, 2012

	GOP Tax Reform	President’s Plan
Creates a simpler and fairer tax code	Yes	No
Closes special interest loopholes	Yes	No
Lowers tax rates for families and employers	Yes	No
Encourages job-creating investments	Yes	No
Makes the United States a more attractive place to invest and create jobs by reducing the corporate tax rate to 25 percent	Yes	No
Modernizes America’s 1950s style international tax system so our workers can compete in the 21st century	Yes	No
Ensures that the level of tax revenue taken out of the U.S. economy will not rise above historic levels	Yes	No
Retains the current estate tax relief so that family-owned businesses have greater ability to plan for the future and pass their family-owned businesses on to future generations	Yes	No
Permanently addresses the alternative minimum tax that is currently looming over 31 million middle-class families	Yes	No
Could lead to the creation of 1 million jobs when paired with spending cuts	Yes	No (in fact, it could cost 700,000 jobs)

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