Number: RL34622
Title: Tax Expenditures and the Federal Budget
Authors: Thomas L. Hungerford, Government and Finance Division 
Abstract: Estimates of the revenue losses and distributional effects of tax expenditures depend on the parameters of the tax code. Both will change not only because of direct changes to the tax expenditures themselves, but also because of changes elsewhere in the tax code. Consequently, while many tax expenditures may be considered permanent, the revenue losses can vary year to year because of changing economic conditions and changes to the tax code. For example, the revenue loss and distributional impacts of many tax expenditures will change after 2010 when the individual income tax rates are scheduled to revert back to their pre-2001 levels.
Pages: 17
Date: September 10, 2008