Gore Proposals Too Vague to Calculate

July 7, 2008 - 8:26 PM

(Editor's Note: The bi-partisan Joint Committee on Taxation Friday announced its scoring of Vice President Al Gore's recently proposed tax and spending proposals and concluded that "19 of the vice president's proposals cannot be scored because they either require additional specification or are presently unavailable." The following is a list of those programs that are considered "too vague" by the JCT.)

* Expand the Earned Income Credit

* Increase the estate tax exemption for small businesses and family farms

* Provide a 25% refundable tax credit for individuals who lack access to employer-provided health insurance; allow individuals age 55-65 to use this credit to buy into Medicare; and allow children above 250% of poverty, but without health coverage, to use this credit to buy into CHIP

* Tax credits for school construction and modernization

* College opportunity tax cut

* Tuition savings accounts

* Create 401(j) Lifetime Learning Accounts

* Expand worker training and skill development

* Retirement Savings Plus Accounts

* Tax incentives for small businesses to offer high-quality pension coverage

* Third Round of Empowerment Zones

* Technology bonds to help underserved communities

* Provide New Markets tax credit

* 50% reduction in capital gains on the transfer of farms or other private property

* Expand the estate tax deduction for landowners who transfer properties near cities, parks or wilderness areas

* Increase the tax incentives for reforestation on private lands

* Better America Bonds

* Tax incentives to individuals and businesses to increase energy efficiency

* Permanent extension of the R&E credit and make the credit partially refundable

Source: The Joint Committee on Taxation.