- Adds 13 more months of unemployment benefits on top of the existing 99 weeks of benefits the unemployed have now. No reduction in spending to pay for this. Cost is $56 billion
- Current tax rates stay the same for another 2 years including capital gains, child tax credits, and income tax rates. Estimated decrease in revenue vs. allowing tax cuts to expire = $314.9 billion
- The Estate Tax (Death tax) is back. Estates worth more than $5 million will be taxed at 35%. The death tax is a blatant example of double taxation. I sure wish it could be done away with permanently.
- Social Security taxes fall for one year from 6.2% of income to 4.2%. The average person will gain ~$1,000 because of this. Impact is $120 billion in lost revenue for the government.
- US businesses will be able to immediately expense all business investments in 2011. The Treasury Department has said this provision could generate more than $50 billion in additional investment in the U.S. in 2011. However, other economists believe that the US has a great deal of excess business capacity right now and not many businesses are likely to increase their planned investments for 2011.
