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. deduct.-recur.impact -3.50 -5.00 -6.00 Recurring impact 7.00 1.50 -3.50 One-time repat. tax 8.50 -8.50 Source: BofAML US Equity & Quant Strategy, FactSet, Compustat, S&P “Assumes end to interest deductibility only applies to new debt, where we estimate 70-90% of debt is long-term. Note: For this exhib
Page: HOUSE_OVERSIGHT_023069 →nuary 2017 3 HOUSE_OVERSIGHT_023071 --- PAGE BREAK --- Table 3: Estimated 10-year* revenue impact from tax plans, $bn Based on estimates from both the Tax Policy Center and Tax Foundation House Plan Trump Plan Corporate Tax Reform -890 to -1200 = -1940 to -2630 Lower corporate tax rate (20% under House, 15% under T
Page: HOUSE_OVERSIGHT_023072 →Eye on the Market, July 25, 2011
Institute Source: OME, CHO, Peterson Foundation 2097 Fiscal Sunnint. Low earners 1955 1960 1965 190 1975 180 1985 1990 1995 2000 2005 2010 Source: Tax Policy Center Europe: Finally (!!), but now what? For the first time since 2009, it felt last week like European policymakers were trying to get out in front of
Page: HOUSE_OVERSIGHT_025216 →ions (1925) 1991) transtfar union 1998 20000 anne 2004 2006 2008 anid Source: Carl-Ludwig Holtirerich, Hallelnstitute for Economic Research, Source: Factset, MSCL Zentrum fur Europaische Politik (Freiburg), J.P. Morgan Private Bank. Bottom line. At atime when European equities are trading close to 2009
Page: HOUSE_OVERSIGHT_025218 →Microsoft Word - 07-25-11 - EOTM - White Castle.docx
ang of Six proposal, J.P. Morgan Private Bank. cuts to discretionary and entitlement spending Pres. Budget Boehner 1 Plan CBO Baseline On the AMT: the Tax Policy Center estimates that if the AMT is not indexed to inflation, it would impact 31 million filers in 2012 (and raise $132 billion in revenue), compared to 4 m
Page: HOUSE_OVERSIGHT_025221 →tions (1929) 1991) transfer union 1998 2000 2002 9004 2006 2008 2010 Source: Carl-Ludwig Holtfrerich, Halle Institute for Economic Research, Source: Factset, MSC. Zentrum fur Europaische Politik (Freiburg), J.P. Morgan Private Bank. Bottom line. At a time when European equities are trading close to 2009
Page: HOUSE_OVERSIGHT_025224 →Entities connected to both FactSet and the Tax Policy Center

Barack Obama
PERSON
Donald Trump
PERSON
JPMorgan Chase
ORGANIZATIONMichael Cembalest
PERSONJ.P. Morgan Securities LLC
ORGANIZATION
Moody’s
ORGANIZATION
Eurozone
ORGANIZATION
Belgium
LOCATION
Marc Rich
PERSON
Empirical Research Partners
ORGANIZATION
George W. Bush
PERSON
Paul Ryan
PERSON
United Kingdom
LOCATION
Office of Management and Budget
ORGANIZATION
Ronald Reagan
PERSON
Eurostat
ORGANIZATION
Eleanor Roosevelt
PERSONJ.P. Morgan U.S. Private Bank
ORGANIZATION
Michael Bloomberg
PERSONThe Monetary Authority of Singapore
ORGANIZATION