The Joint Committee on Taxation (JCT) today published a report containing a discussion of the concept and measurement of tax expenditures in advance of a Senate Finance Committee hearing on tax reform, scheduled for Tuesday, February 10, 2015.
The JCT report—JCX-18-15 [PDF 213 KB]—includes historical background information on tax expenditures, including those enacted since the enactment of the Tax Reform Act of 1986.
According to the JCT, an analysis of tax expenditure can provide an understanding of the actual size of government, the uses to which government resources are put, and the tax and economic policy consequences that follow from the implicit or explicit choices made during the legislative process.
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