Tax-cut highlights

Highlights of the tax package negotiated by President Barack Obama and GOP lawmakers, which would cost about $855 billion:

Extends, for two years, lower tax rates for taxpayers at every income level, lower taxes on capital gains and dividends, marriage-penalty relief, more generous child tax credits and education tax credits. Cost: $408 billion.

A patch that would spare more than 20 million people from a significant tax increase from the alternative minimum tax in 2010 and 2011. Cost: $137 billion.

A lower tax on wealthy estates for two years. Cost: $68 billion.

A one-year payroll tax cut, from 6.2 percent to 4.2 percent, for workers. Cost: $112 billion.

A temporary extension of dozens of business and individual tax breaks, many of which already expired this year. Cost: $55 billion.

Increased depreciation and expensing for capital investments by businesses. Cost: $22 billion.

A one-year extension of jobless benefits for people who have been unemployed for long stretches. Cost: About $55 billion.

Source: Preliminary projections by the Joint Committee on Taxation