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Tax Expenditures
Saturday, March 25, 2017 3:49
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from the Congressional Budget Office
– this post authored by Joshua Shakin
Current tax law includes an array of exclusions, deductions, preferential rates, and credits that reduce revenues for any given level of tax rates in the individual, payroll, and corporate income tax systems. Some of those provisions are called tax expenditures because, like many government spending programs, they provide financial assistance for particular activities or to certain entities or groups of people. The Joint Committee on Taxation (JCT) regularly reports on the provisions that it identifies as tax expenditures.
Source: http://econintersect.com/pages/contributors/contributor.php?post=201703250517
