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DEMOCRATIC CONVENTION '96

The Proposals' Price

August 29, 1996

President Clinton has proposed a series of new government programs this week, with an overall price tag of $8.5 billion over six years. The following is the cost of each proposal and how Clinton proposes to pay for them. All dollar figures refer to the cost over a six-year period.

THE COST

$1.75 billion in new money for a literacy program announced Tuesday. Another $1 billion would be shifted to the literacy program from the existing Americorps national service program.

$1.9 billion for environmental programs announced Wednesday.

$3.4 billion for a series of new urban initiative designed to ease the pain of the new welfare reform bill, which will be annouced in the acceptance speech Thursday night.

$1 billion in tax relief from a capital gains cut to be targeted for owner-occupied homes, which has not yet been announced.

No cost to the federal government for a new gun control initiative announced Monday.

HOW TO PAY FOR IT

$5.3 billion by ending a tax break that allows some multi-national companies to pay taxes on only 50% of their exports.

$541 million by charging owners of corporate jets a $225 per flight fee for air traffic control.

$500 million by auctioning off some part of the communication spectrum.

$420 million by increasing fees companies pay to have mergers reviewed by anti-trust officials.

$280 million by repealing some Medicare-Medicaid loopholes.

$475 million by suspending for one year a tax credit for producers of alternative fuels.

$200 million by increasing penalties on companies that substantially underpay taxes.

$200 million by changing single-family limits on FHA loans.

$200 million by changing the current corporate tax deduction for dividends received.

Source: White House, Office of Management and Budget

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