Fact Check: Proposed tax changes could cost taxpayers $14.2 billion over a decade.

Fact Check: Proposed tax changes could cost taxpayers $14.2 billion over a decade

What We Know

The claim that proposed tax changes could cost taxpayers $14.2 billion over a decade appears to stem from various budget proposals and tax reform discussions. Specifically, the fiscal year 2025 proposed budget indicates that certain tax reforms could lead to significant revenue changes, but the exact figure of $14.2 billion is not universally agreed upon or directly sourced from a single document (source-1).

Additionally, the proposed tax changes discussed in various legislative contexts, including those related to President Trump's tax bill, suggest that tax cuts and reforms could lead to substantial revenue losses for the government, but again, the specific figure of $14.2 billion is not explicitly mentioned (source-2).

Analysis

The claim of a $14.2 billion cost to taxpayers over a decade is partially true. While there are proposals that could lead to significant tax revenue losses, the figure itself may not be directly supported by a specific legislative text or budget document. The fiscal year 2025 proposed budget does indicate adjustments that could affect state aid and tax revenues, but it does not provide a clear breakdown that totals $14.2 billion (source-1).

Moreover, the context of tax changes proposed by the Trump administration, which included various tax cuts and adjustments to deductions, suggests that while the overall impact on taxpayers could be significant, the exact figure of $14.2 billion is not universally recognized or validated across multiple sources (source-2).

The credibility of the sources varies; the proposed budget document is an official government publication, which typically holds high reliability. In contrast, news articles may provide interpretations and analyses that could include bias or selective reporting.

Conclusion

The claim that proposed tax changes could cost taxpayers $14.2 billion over a decade is partially true. While there are discussions and proposals that suggest significant financial implications for taxpayers, the specific figure of $14.2 billion is not definitively substantiated by the available sources. The actual impact of proposed tax changes will depend on the final legislative outcomes and how they are implemented.

Sources

1. Fiscal year 2025 proposed budget
2. Trump's big tax bill has passed the House. Here's what's inside it
3. Biden Budget Tax Proposals: Details & Analysis | Tax Foundation
4. 14 things to know about McKee's proposed $14.2B FY 2026 budget
5. What are the largest tax expenditures? | Tax Policy Center
6. Biden Build Back Better Act: Details & Analysis | Tax Foundation