What are the largest tax expenditures? Q.What are the largest tax expenditures? A.Tax expenditures make up a substantial part of the federal budget. Some of them are larger than the entire budgets of the programs or departments that spend money for the same or related purposes. For example, the value of the tax breaks for homeownership, although reduced by the latest tax bill, still exceeds total spending by the US Department of Housing and Urban Development. Read more about What are the largest tax expenditures?
Why are tax expenditures controversial? Q.Why are tax expenditures controversial? A.To some, tax expenditures are spending items that do not belong in the tax code. To others, they are merely a way of reducing taxes, and repealing them would amount to a tax increase. Read more about Why are tax expenditures controversial?
What are tax expenditures and how are they structured? Q.What are tax expenditures and how are they structured? A. Tax expenditures are special provisions of the tax code such as exclusions, deductions, deferrals, credits, and tax rates that benefit specific activities or groups of taxpayers. Read more about What are tax expenditures and how are they structured?
