Last week the Joint Committee on Taxation (JCT) estimated the President’s economic growth package would reduce taxes by $726 billion over the next 11 years (FY2003-2013), more than any other published estimate. However, even the JCT estimate may not be as much as it appears. It is important to keep in mind that over the next 11 years the federal government will collect nearly $30 trillion in taxes. So, $726 billion represents just 2.4% of all the taxes that would be paid by taxpayers.