) “I don’t have a $5 trillion tax cut. I don’t have a tax cut of a scale that you’re talking about.” A Tax Policy Center analysis of Romney’s proposal for a 20 percent across-the-board tax cut in all federal income tax rates, eliminating the Alternative Minimum Tax, eliminating the estate tax and other tax reductions, would reduce federal revenue $480 billion in 2015. This amounts to $5 trillion over the decade.