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Chris Van Hollen, the top Democrat on the House Budget Committee, unveiled his proposed tax cuts on Monday at the Center for American Progress Action Fund.

NEW YORK (CNNMoney)

But if you're in the top 1% of earners -- meaning you make at least $435,000 -- you'd be footing the bill.

Representative Chris Van Hollen, the leading Democrat on the House Budget Committee, estimates his proposal would provide $1.2 trillion in tax cuts over a decade.

The plan, which is not part of any bill yet, has not been officially analyzed. But Van Hollen said his proposals wouldn't add to the deficit because he would pay for them by curbing tax breaks for the rich and taxing financial trades.

Under his plan, the percentage of tax filers who end up owing no federal taxes would "almost certainly" increase, said Roberton Williams, a fellow at the Tax Policy Center.

But Van Hollen's proposals have virtually no chance of becoming law in a Republican-controlled House and Senate.

"For Democrats, the calculation is strictly political," Greg Valliere, chief political strategist for the Potomac Research Group, wrote in a note.

Related: Top 1%: What they made, what they paid

Here is some of what Van Hollen's proposal would create:

See the rest here:
A Democratic plan for big middle class tax breaks