Policy modifications for the "Budget for shared prosperity" (billions of dollars)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 | 2034 | 2035 | 2036 | 2037 | 2038 | 2039 | 2040 | 2041 | 2042 | 2043 | 2044 | 2045 | 2046 | 2047 | 2048 | 2049 | 2020-2049 | 2020-2029 | 2030-2049 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total baseline deficit(-)/surplus(+) | -897 | -903 | -974 | -1,066 | -1,134 | -1,158 | -1,212 | -1,204 | -1,192 | -1,344 | -1,460 | -1,538 | -1,681 | -1,833 | -1,958 | -2,128 | -2,308 | -2,500 | -2,745 | -2,963 | -3,193 | -3,438 | -3,697 | -3,971 | -4,262 | -4,570 | -4,895 | -5,240 | -5,605 | -5,991 | -6,418 | -82,582 | -11,648 | -70,935 |
| Revenues | ||||||||||||||||||||||||||||||||||
| Individual income taxes | ||||||||||||||||||||||||||||||||||
| Fairer income rates and brackets | 0 | 253 | 352 | 370 | 390 | 412 | 434 | 172 | 88 | 92 | 97 | 101 | 108 | 115 | 123 | 131 | 140 | 150 | 160 | 171 | 183 | 195 | 207 | 219 | 231 | 244 | 258 | 273 | 288 | 305 | 322 | 6,584 | 2,659 | 3,925 |
| Mark-to-market taxation of capital income | 0 | -23 | 31 | 93 | 142 | 187 | 228 | 251 | 281 | 313 | 344 | 355 | 372 | 394 | 417 | 442 | 469 | 498 | 529 | 563 | 598 | 637 | 668 | 697 | 728 | 760 | 793 | 828 | 865 | 903 | 942 | 14,304 | 1,846 | 12,458 |
| Taxing income equally | 0 | 926 | 1,297 | 1,350 | 1,417 | 1,492 | 1,570 | 1,710 | 1,805 | 1,891 | 1,982 | 2,078 | 2,175 | 2,275 | 2,379 | 2,486 | 2,597 | 2,712 | 2,831 | 2,955 | 3,083 | 3,215 | 3,344 | 3,476 | 3,613 | 3,755 | 3,903 | 4,056 | 4,216 | 4,381 | 4,553 | 79,521 | 15,439 | 64,082 |
| Undo Public Law 115-97 standard deduction and exemptions | 0 | 50 | 70 | 73 | 77 | 80 | 82 | 70 | 67 | 69 | 71 | 73 | 75 | 77 | 80 | 82 | 84 | 87 | 89 | 92 | 95 | 98 | 100 | 103 | 106 | 109 | 112 | 115 | 119 | 122 | 125 | 2,650 | 708 | 1,943 |
| Expand the EITC to all working adults | 0 | -3 | -4 | -4 | -4 | -4 | -5 | -5 | -5 | -5 | -5 | -5 | -5 | -5 | -5 | -5 | -5 | -5 | -5 | -5 | -5 | -6 | -6 | -6 | -6 | -6 | -6 | -6 | -6 | -6 | -6 | -153 | -43 | -110 |
| Closing wealth loopholes to strengthen Medicare | 0 | 10 | 17 | 18 | 19 | 20 | 22 | 23 | 25 | 27 | 29 | 31 | 33 | 35 | 38 | 40 | 43 | 46 | 50 | 53 | 57 | 61 | 66 | 70 | 75 | 81 | 87 | 93 | 100 | 107 | 114 | 1,488 | 209 | 1,280 |
| Social insurance taxes | ||||||||||||||||||||||||||||||||||
| Shielding Social Security from inequality | 0 | 77 | 106 | 110 | 113 | 118 | 123 | 126 | 131 | 135 | 139 | 145 | 151 | 157 | 164 | 171 | 178 | 186 | 194 | 202 | 211 | 219 | 228 | 236 | 244 | 253 | 262 | 271 | 281 | 291 | 301 | 5,520 | 1,178 | 4,342 |
| Insuring an employer contribution for health security | 0 | 151 | 207 | 215 | 224 | 233 | 242 | 252 | 263 | 273 | 284 | 295 | 306 | 318 | 329 | 342 | 355 | 368 | 381 | 396 | 410 | 426 | 442 | 458 | 475 | 493 | 511 | 530 | 550 | 571 | 592 | 10,891 | 2,344 | 8,548 |
| Paying for paid family leave | 0 | 23 | 32 | 33 | 34 | 36 | 37 | 39 | 41 | 42 | 44 | 46 | 48 | 50 | 52 | 54 | 56 | 58 | 61 | 63 | 66 | 68 | 71 | 74 | 77 | 80 | 83 | 86 | 90 | 93 | 97 | 1,733 | 362 | 1,371 |
| Closing business tax loopholes | 0 | 7 | 13 | 15 | 16 | 18 | 19 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 30 | 31 | 32 | 34 | 35 | 37 | 38 | 40 | 42 | 44 | 46 | 48 | 50 | 52 | 880 | 170 | 711 |
| Corporate income taxes | ||||||||||||||||||||||||||||||||||
| Restoring responsible corporate tax rates | 0 | 61 | 106 | 115 | 128 | 143 | 155 | 167 | 174 | 181 | 188 | 196 | 204 | 212 | 221 | 229 | 239 | 248 | 258 | 269 | 279 | 291 | 302 | 315 | 327 | 340 | 354 | 368 | 383 | 399 | 415 | 7,265 | 1,418 | 5,847 |
| Ending offshore outsourcing | 0 | 68 | 66 | 64 | 62 | 63 | 63 | 60 | 57 | 58 | 59 | 60 | 62 | 63 | 65 | 66 | 67 | 69 | 71 | 72 | 74 | 76 | 78 | 80 | 82 | 84 | 86 | 88 | 90 | 92 | 95 | 2,136 | 619 | 1,517 |
| Closing corporations’ loopholes | 0 | 21 | 47 | 45 | 39 | 42 | 45 | 49 | 52 | 56 | 60 | 64 | 67 | 70 | 73 | 77 | 81 | 86 | 91 | 96 | 102 | 108 | 114 | 121 | 128 | 136 | 145 | 155 | 166 | 178 | 191 | 2,706 | 456 | 2,250 |
| Estate and gift and wealth taxes | ||||||||||||||||||||||||||||||||||
| Taxing inherited wealth fairly and closing estate tax loopholes | 0 | 7 | 52 | 60 | 69 | 78 | 84 | 87 | 79 | 84 | 89 | 93 | 98 | 102 | 106 | 110 | 114 | 118 | 123 | 129 | 134 | 139 | 144 | 150 | 156 | 162 | 169 | 176 | 184 | 191 | 199 | 3,486 | 689 | 2,796 |
| Tax on richest wealth holdings | 0 | 89 | 121 | 126 | 130 | 136 | 141 | 146 | 152 | 158 | 164 | 170 | 177 | 184 | 191 | 198 | 206 | 214 | 222 | 230 | 239 | 248 | 258 | 268 | 278 | 289 | 300 | 311 | 323 | 336 | 349 | 6,352 | 1,363 | 4,990 |
| Excise and other taxes | ||||||||||||||||||||||||||||||||||
| Carbon tax to fight climate change | 0 | 174 | 256 | 251 | 247 | 245 | 245 | 246 | 245 | 246 | 246 | 246 | 246 | 246 | 246 | 246 | 247 | 248 | 249 | 250 | 251 | 253 | 255 | 257 | 259 | 261 | 264 | 267 | 270 | 273 | 276 | 7,508 | 2,401 | 5,108 |
| Wall street speculation tax | -77 | -50 | 68 | 122 | 129 | 130 | 132 | 133 | 134 | 136 | 137 | 138 | 140 | 141 | 142 | 143 | 144 | 146 | 147 | 148 | 149 | 150 | 152 | 153 | 154 | 155 | 157 | 158 | 159 | 160 | 162 | 4,069 | 1,072 | 2,997 |
| A gas tax that can fund transportation infrastructure | 0 | 34 | 46 | 47 | 48 | 49 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 73 | 1,732 | 478 | 1,254 |
| Cigarette taxes for health | 0 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 98 | 38 | 60 |
| Taxing Bank Bigness | 0 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 266 | 99 | 167 |
| Tax to nudge Americans from sugary drinks | 0 | 7 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 299 | 97 | 202 |
| Reducing the alcohol externality | 0 | 5 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 251 | 70 | 181 |
| Income-based premium for Medicare for All | 0 | 300 | 409 | 421 | 435 | 448 | 463 | 477 | 492 | 508 | 525 | 542 | 559 | 576 | 593 | 611 | 630 | 649 | 669 | 689 | 710 | 732 | 754 | 776 | 799 | 823 | 847 | 872 | 898 | 924 | 951 | 19,082 | 4,478 | 14,605 |
| Reform our immigration system (net revenue effects) | 0 | 3 | 15 | 35 | 48 | 55 | 58 | 66 | 77 | 93 | 104 | 114 | 124 | 136 | 148 | 162 | 177 | 194 | 212 | 232 | 253 | 277 | 303 | 331 | 362 | 396 | 434 | 474 | 519 | 567 | 621 | 6,591 | 554 | 6,037 |
| Spending | ||||||||||||||||||||||||||||||||||
| Social Security | ||||||||||||||||||||||||||||||||||
| Expand Social Security | 0 | 3 | 7 | 10 | 13 | 18 | 21 | 26 | 30 | 35 | 41 | 46 | 52 | 59 | 67 | 74 | 82 | 92 | 101 | 112 | 121 | 132 | 143 | 155 | 168 | 182 | 194 | 208 | 222 | 239 | 247 | 2,902 | 204 | 2,698 |
| Healthcare | ||||||||||||||||||||||||||||||||||
| Medicare drug negotiation | 0 | -28 | -40 | -44 | -47 | -51 | -55 | -58 | -63 | -71 | -75 | -80 | -84 | -89 | -95 | -100 | -106 | -112 | -119 | -126 | -134 | -141 | -150 | -159 | -168 | -178 | -189 | -200 | -212 | -224 | -238 | -3,436 | -533 | -2,904 |
| Medicare savings | 0 | -1 | -10 | -55 | -29 | 6 | -43 | -55 | -68 | -147 | -151 | -155 | -160 | -165 | -171 | -178 | -185 | -194 | -203 | -213 | -224 | -237 | -251 | -267 | -284 | -303 | -324 | -347 | -373 | -401 | -417 | -5,606 | -553 | -5,053 |
| Rein in pharmaceutical monopolies | 0 | -1 | -2 | -2 | -3 | -3 | -3 | -3 | -4 | -4 | -5 | -5 | -5 | -6 | -6 | -6 | -7 | -7 | -8 | -8 | -8 | -9 | -9 | -9 | -10 | -10 | -11 | -12 | -12 | -13 | -13 | -203 | -29 | -174 |
| Strengthen Medicaid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8 | -2 | -6 |
| Medicaid savings | 0 | -5 | -6 | -16 | -20 | -24 | -27 | -31 | -36 | -40 | -43 | -47 | -51 | -56 | -61 | -67 | -73 | -79 | -87 | -95 | -104 | -113 | -124 | -135 | -147 | -160 | -175 | -191 | -208 | -226 | -235 | -2,682 | -248 | -2,434 |
| Healthcare for all | 0 | 1,039 | 1,453 | 1,524 | 1,599 | 1,678 | 1,762 | 1,848 | 1,939 | 2,035 | 2,139 | 2,247 | 2,360 | 2,479 | 2,603 | 2,734 | 2,871 | 3,014 | 3,165 | 3,322 | 3,487 | 3,660 | 3,842 | 4,032 | 4,231 | 4,440 | 4,658 | 4,887 | 5,127 | 5,378 | 5,595 | 91,149 | 17,017 | 74,132 |
| Discretionary | ||||||||||||||||||||||||||||||||||
| Responsible defense discretionary budgeting | 0 | -50 | -55 | -57 | -51 | -42 | -50 | -57 | -49 | -45 | -47 | -49 | -51 | -53 | -55 | -57 | -60 | -62 | -65 | -67 | -70 | -73 | -76 | -79 | -82 | -85 | -89 | -92 | -96 | -100 | -104 | -1,967 | -504 | -1,463 |
| Reform our immigration system (net discretionary spending effects) | 0 | 5 | 4 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 97 | 27 | 70 |
| Permanent boost to nondefense discretionary | 0 | 0 | 51 | 85 | 123 | 157 | 169 | 181 | 196 | 214 | 223 | 232 | 241 | 251 | 261 | 272 | 282 | 294 | 306 | 318 | 331 | 344 | 358 | 372 | 387 | 403 | 419 | 436 | 454 | 472 | 491 | 8,324 | 1,400 | 6,925 |
| Other noninterest spending | ||||||||||||||||||||||||||||||||||
| A UBI for kids | 0 | 225 | 305 | 314 | 322 | 331 | 339 | 349 | 358 | 368 | 377 | 388 | 397 | 406 | 416 | 426 | 436 | 446 | 456 | 467 | 478 | 489 | 500 | 511 | 523 | 534 | 546 | 559 | 571 | 584 | 597 | 13,016 | 3,288 | 9,728 |
| Carbon UBI | 0 | 0 | 348 | 512 | 502 | 494 | 491 | 491 | 492 | 492 | 493 | 493 | 493 | 493 | 493 | 494 | 494 | 495 | 497 | 499 | 502 | 504 | 508 | 511 | 515 | 519 | 524 | 530 | 535 | 541 | 547 | 14,501 | 4,316 | 10,186 |
| Boost SNAP benefits | 0 | 3 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 8 | 8 | 8 | 9 | 9 | 9 | 10 | 10 | 10 | 11 | 11 | 12 | 12 | 13 | 13 | 14 | 248 | 55 | 193 |
| Child nutrition | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 68 | 14 | 54 |
| Public financing of campaigns | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 70 | 15 | 56 |
| Crop insurance reform | 0 | 0 | -2 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -81 | -24 | -57 |
| Universal early childcare and education | 0 | 59 | 82 | 85 | 88 | 92 | 95 | 99 | 103 | 107 | 111 | 116 | 120 | 125 | 130 | 136 | 141 | 147 | 153 | 159 | 165 | 172 | 179 | 186 | 193 | 201 | 209 | 218 | 227 | 236 | 245 | 43,80 | 922 | 3,457 |
| Reducing homelessness | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 76 | 12 | 64 |
| Paid family and medical leave | 0 | 27 | 37 | 38 | 40 | 42 | 43 | 45 | 47 | 49 | 51 | 53 | 56 | 58 | 60 | 63 | 66 | 68 | 71 | 74 | 77 | 81 | 84 | 87 | 91 | 94 | 98 | 102 | 106 | 111 | 115 | 2,034 | 419 | 1,615 |
| Strengthen unemployment insurance | 0 | 1 | 2 | 3 | 3 | 4 | 4 | 5 | 6 | 6 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 9 | 9 | 9 | 10 | 10 | 11 | 11 | 11 | 12 | 12 | 13 | 13 | 14 | 15 | 246 | 41 | 205 |
| Investing in 21st century infrastructure | 0 | 254 | 254 | 254 | 193 | 193 | 166 | 166 | 166 | 166 | 166 | 172 | 179 | 186 | 194 | 202 | 210 | 218 | 227 | 236 | 246 | 256 | 266 | 277 | 288 | 299 | 311 | 324 | 337 | 351 | 365 | 7,118 | 1,975 | 5,143 |
| Investing in educators and schools | 0 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 25 | 26 | 27 | 29 | 30 | 31 | 32 | 33 | 35 | 36 | 38 | 39 | 41 | 42 | 44 | 46 | 48 | 50 | 52 | 54 | 1,002 | 244 | 758 |
| Making college affordable | 0 | 29 | 40 | 42 | 43 | 45 | 47 | 48 | 50 | 52 | 54 | 57 | 59 | 61 | 64 | 66 | 69 | 72 | 75 | 78 | 81 | 84 | 87 | 91 | 95 | 98 | 102 | 106 | 111 | 115 | 120 | 2,140 | 451 | 1,689 |
| Reform our immigration system (net mandatory spending effects) | 0 | 5 | 9 | 18 | 24 | 30 | 32 | 39 | 45 | 53 | 55 | 58 | 60 | 62 | 65 | 68 | 70 | 73 | 76 | 79 | 82 | 86 | 89 | 93 | 96 | 100 | 104 | 109 | 113 | 117 | 122 | 2,033 | 311 | 1,723 |
| Net policy adjustments (primary) | -77 | 612 | 828 | 845 | 958 | 1,007 | 1,191 | 1,043 | 1,014 | 1,154 | 1,231 | 1,279 | 1,334 | 1,394 | 1,458 | 1,526 | 1,596 | 1,670 | 1,748 | 1,832 | 1,922 | 2,016 | 2,095 | 2,173 | 2,255 | 2,343 | 2,440 | 2,539 | 2,649 | 2,765 | 2,921 | 49,838 | 9,883 | 39,955 |
| Debt service impact of policy adjustments | -1 | 9 | 34 | 63 | 96 | 129 | 167 | 207 | 248 | 292 | 342 | 394 | 450 | 510 | 573 | 641 | 713 | 790 | 872 | 959 | 1,052 | 1,151 | 1,257 | 1,368 | 1,486 | 1,610 | 1,741 | 1,880 | 2,027 | 2,183 | 2,348 | 25,589 | 1,587 | 24,002 |
| Net impact of policy adjustments | -78 | 620 | 862 | 908 | 1,054 | 1,137 | 1,358 | 1,250 | 1,261 | 1,446 | 1,573 | 1,673 | 1,784 | 1,904 | 2,031 | 2,166 | 2,309 | 2,460 | 2,620 | 2,791 | 2,974 | 3,167 | 3,351 | 3,541 | 3,740 | 3,953 | 4,181 | 4,420 | 4,676 | 4,948 | 5,269 | 75,427 | 11,470 | 63,957 |
| Final deficit | -975 | -283 | -111 | -157 | -79 | -21 | 146 | 46 | 69 | 103 | 112 | 135 | 103 | 71 | 73 | 39 | 1 | -40 | -125 | -172 | -220 | -271 | -346 | -430 | -521 | -616 | -715 | -821 | -929 | -1043 | -1,150 | -7,155 | -177 | -6,978 |
Note: Many policy estimates, and in particular tax policy estimates, were broken down into their separate effects on different types of taxes or spending. For simplicity, this table includes only the overall net effects of a policy, placed in the section of revenues or spending that made the most sense to us. Numbers may not add due to rounding.
Source: EPI (spending proposals) and TPC (revenue proposals)