The Joint Committee on Taxation yesterday released Description of Revenue Provisions Contained in the President’s Fiscal Year 2010 Budget Proposal — Part One: Individual Income Tax and Estate And Gift Tax Provisions (JCS-2-09):

This document, prepared by the staff of the Joint Committee on Taxation, provides a description and analysis of the individual income tax and estate and gift tax provisions that are included in the President’s fiscal year 2010 budget proposal, as submitted to the Congress on May 7, 2009. The document generally follows the order of the proposals as included in the Department of the Treasury’s explanation of the President’s budget proposal. For each provision, there is a description of present law and the proposal (including effective date), a reference to relevant prior budget proposals or recent significant legislative action, and an analysis of policy issues related to the proposal.