This article evaluates recent tax policies in light of the fiscal status of the federal government, and is the third article in a series that summarizes and evaluates tax policy in the Bush administration.
Section II provides estimates of the budget outlook and the revenue and budgetary effects of the tax cuts over a 10-year budget window. Section III examines similar issues over long-run horizons. Section IV discusses the key implications for making the tax cuts permanent. Section V discusses the key implications for the original tax cuts.