This information comes from the CTJ – Citizens for Tax Justice
Ten years ago, on June 7, 2001, President George W. Bush signed into law the first of several tax cuts that drove the balanced budget he inherited from President Clinton deep into the red. Last year, Congressional supporters of Bush’s policies pushed through an extension of these tax cuts through the end of 2012.
Many lawmakers want to extend the Bush tax cuts again into 2013 and beyond, which would almost double the federal budget deficit.
Extending the Bush tax cuts from 2013 through 2022 would cost $5.5 trillion.