May 14, 2008
For those who haven't seen it, the Joint Committee on Taxation earlier this week released an interesting report delineating a new approach to analyzing and estimating tax expenditures (that is, targeted tax provisions that reduce revenue through special credits, preferential tax rates, exclusions, exemptions, deductions, etc.). Ed Kleinbard, the chief of staff at the JCT, has made tax expenditure analysis a high priority, and the report released earlier this week is the first of many that JCT will be publishing in coming months.