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Murray Tax Plan Would Generate Only 57 Percent of Assumed Tax Revenue

Created on March 19, 2013

Murray Tax Plan Would Generate Only 57 Percent of Assumed Tax Revenue

CHART 2

CHANGE IN FEDERAL REVENUE DUE TO MURRAY TAX PLAN, IN BILLIONS

Senator Patty Murray’s budget proposal assumes that federal revenue from taxes will increase by $155 billion each year for 10 years. However, when accounting for the dynamic effects of increased taxes on the economy, the annual average would be closer to $88 billion.

Dynamic modeling: $88 billion annual average

Murray budget assumption: $155 billion annual average

Source: Heritage Foundation calculations using data from the IHS Global Insight 2013 March Short-Term U.S. Macroeconomic Model.

IB 3881

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