REV-34 IMPOSE A VALUE-ADDED TAX

                                Annual Added Revenues
                                (Billions of dollars)             Cumulative
Addition to          -----------------------------------------    Five-Year
CBO Baseline         1994     1995      1996     1997     1998     Addition
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5 Percent Rate, with
Comprehensive Base       0     68.2     107.5    116.3    125.3      417.3

5 Percent Rate, with
Food, Housing, and
Medical Care Excluded    0     35.7      56.1     60.4     64.8      217.0
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SOURCE:  Joint Committee on Taxation.

NOTE:Estimates are based on an effective date of January 1, 1995.  They are
     net of reduced income and payroll tax revenues, but do not reflect
     added administrative costs.

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