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Research report

Tax Expenditures: Revenue Loss Versus Outlay Equivalents

Adam Carasso, C. Eugene Steuerle
October 13, 2003
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Abstract

Tax expenditures refer to the revenue losses attributable to provisions of the federal tax laws that deviate from a "normal" tax on income. Although there are debates over precisely what a tax expenditure is, many exclusions, deductions, credits, preferential rates, and deferrals of tax liability--other then those necessary to calculate income correctly or to provide a basic exemption from taxation--are considered tax expenditures.

Research Area

Federal Budget and Economy Individual Taxes
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Meet the Experts

  • Adam Carasso
  • C. Eugene Steuerle
    Institute Fellow and Richard B. Fisher Chair
Research report

New Evidence on The Effect of The TCJA On the Housing Market

Robert McClelland, Livia Mucciolo, Safia Sayed
March 30, 2022
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