• The exemption for the Alternative Minimum Tax (AMT) will decrease from $46,700 to $33,750 for single filers and from $70,950 to $45,000 for married couples filing jointly.
• Taxpayers will not be allowed to deduct their state and local general sales taxes from
  their federal income tax.
• Businesses will not be able to claim a tax credit for research, experimentation, and
  development activities.
• Taxpayers will not be able to claim a deduction for qualified tuition and related expenses.
• School teachers will no longer be able to write off books, supplies and other equipment
  that they purchase with their own money for the classroom.
• Five year depreciation of farm business machinery and equipment will expire.
• Business property on Indian reservations will no longer be depreciated at an accelerated
  rate.
• Donations of books to public schools (K-12) will no longer be eligible for an enhanced
  charitable deduction.
• Corporate contributions of computer equipment for educational purposes will no longer
  be eligible for an enhanced charitable deduction.
• The minimum required distribution rules for IRAs and defined contribution plans will no
  longer be waived.
• Tax-free distributions from individual retirement plans for charitable purposes will no
  longer be allowed.
•  The tax credit for first-time DC homebuyers will expire.
• Tax incentives for investment in DC, including the DC Zone employment tax credit, will
  expire.
• "Renewal Community" tax incentives will expire.
• The net operating loss (NOL) carryback period for small businesses will decrease from 5
  years to 2 years.
• The first-time homebuyer credit will expire at the end of April 2010.

2011:

• The marginal income tax rates will increase as follows:
•  35% bracket will increase to 39.6%
• 33% bracket will increase to 36%
• 28% bracket will increase to 31%
• 25% bracket will increase to 28%
• 10% and 15% brackets will condense to 15%
•  Dividends will no longer be taxed at the capital gains rate for individuals, thereby
  increasing the double taxation of dividends by as much as 164%.
• The personal capital gains tax will increase to 20% and 10% (from 15% and 5%).
• The child tax credit will decrease from $1,000 to $500.
• The standard deduction for couples as a percentage of the standard deduction for singles
  will decrease from 200% to 167%–restoring the marriage penalty.
• The top end of the 15% marginal income tax bracket for couples as a percentage of the top
  end for singles will decrease from 200% to 167%–restoring the marriage penalty.
• The "death" tax using the "stepped up" basis will return with a 55% maximum rate
  (including surtax) and a $1 million exemption, after years of decreasing "death" tax rates,
  increasing exemptions, one year using the "carryover" basis to calculate the tax due, and one
  year of total elimination (2010).
• The Section 179 business expensing cap will decrease from $250,000 to $125,000 (plus
  inflation after 2008), and the starting point for the phase-out of this deduction will decrease
  from $800,000 to $500,000.
• The dependent care tax credit will decrease from $3,000 to $2,400.
• The American Opportunity Tax Credit will expire.
• No longer will individuals be able to receive a credit to purchase energy efficient home
  appliances.
• The tax credit to hire unemployed veterans and disconnected youth will expire.
• The Work Opportunity Tax Credit, which allows employers to credit up to 40% of the
  first-year wages of a new employee, will expire.
• The $400 "Making Work Pay" Tax Credit will expire.

2012:

•  The adoption tax credit will decrease from $13,170 to $5,000.
• The credit for electric drive motorcycles, three-wheeled vehicles, and low-speed vehicles
  will expire.
• The conversion credit for plug-in electric vehicles will expire.

2013: