REV-20 REPEAL THE POSSESSIONS TAX CREDIT

                                Annual Added Revenues
                                (Billions of dollars)             Cumulative
Addition to          -----------------------------------------    Five-Year
CBO Baseline         1994     1995      1996     1997     1998     Addition
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Repeal the Credit      2.1      3.9       4.1      4.3      4.5       18.7

Replace the Credit
with a Wage Credit     0.3      0.5       0.6      0.7      0.8        2.8
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SOURCE:  Joint Committee on Taxation.

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