Page images
PDF
EPUB
[blocks in formation]

Budget outlays plus tax expenditures (in billions of dollars

1968

1969

1970

[blocks in formation]

Tax expenditures

Total budget outlays plus tax expenditures Tax expenditures as percent of budget outlays

0.9

1.0

1.0

[blocks in formation]
[blocks in formation]

SOURCE: DATA FROM THE BUDGET OF THE U.S. GOVERNMENT,1970 AND THE DEPARTMENT OF THE TREASURY ESTIMATES.

Chart 3

[graphic]
[blocks in formation]

Excess of percentage over cost depletion
Capital gains treatment of royalties on coal and iron ore
Total

300 1/
1,300 1/

तोतो

[blocks in formation]

Budget outlays plus tax expenditures (in billions of dollars

[blocks in formation]

Total budget outlays plus tax expenditures
Tax expenditures as percent of budget outlays
1/ In the absence of the expensing of exploration and development costs and
percentage depletion, the first year revenue effect would be $750 million
and $1.5 billion, respectively. The difference from the estimates shown
which are based on long-run effect is due to the fact that taxpayers with
mineral properties would initially have little or no tax basis because of
deductions in prior years.

*Less than $50 million.

*

*

*

1.7

1.9

1.9

1.6

1.7

1.7

3.3

3.6

3.6

94%

90%

90%

[merged small][merged small][subsumed][subsumed][subsumed][ocr errors][ocr errors][merged small][subsumed][subsumed][subsumed][merged small][merged small][merged small]

SOURCE: DATA FROM THE BUDGET OF THE U.S. GOVERNMENT, 1970 AND
THE DEPARTMENT OF THE TREASURY ESTIMATES.

Chart 4

[graphic]
[blocks in formation]

Budget outlays plus tax expenditures (in billions of dollars)

[blocks in formation]

Total budget outlays plus tax expenditures
Tax expenditures as percent of budget outlays

[blocks in formation]

1 The revenue cost for 1968 under this category differs from that in Exhibit 29 of the Secretary's Annual Report due to the exclusion of capital gains individual and its presentation as a separate item in this revised analysis. *Less than $50 million.

[ocr errors]
« PreviousContinue »