Revenue-Neutral Bill Reduces Revenue by $8.7 Billion

I failed to mention one important part of the tax bill I covered a couple of days back: it’s “estimated to reduce tax revenues by just under $8.7 billion through 2009.”

This is unexpected good news, since the bill was originally billed as revenue-neutral.

James Maule goes into more expert depth about how the Working Families Tax Relief Act of 2004 redefined children.

What I’d like to see, but don’t have the energy or the confidence to actually try to create, is a chart for each of the affected tax provisions showing which children used to qualify and which children qualify now.