Foundation for Economic Education
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Congress Wraps up by Extending Tax Preferences
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In a final, late-night surge of legislating, the 109th Congress passed $45 billion in tax cuts and a trade package affecting at least 150 developing nations, as well as a range of smaller bills on issues from healthcare to energy. But they left most of the current fiscal year's spending decisions to the next Congress. . . . The 11th-hour output includes popular tax extenders, such as the research and development tax credit for businesses and the tax break for college tuition. (Christian Science Monitor [1], Monday)
Real cuts are preferable to behavior modification.
FEE Timely Classic
Tax Expenditures [2] by John Semmens
Article printed from Foundation for Economic Education: http://www.fee.org
URL to article: http://www.fee.org/articles/in-brief/congress-wraps-up-by-extending-tax-preferences/
URLs in this post:
[1] Christian Science Monitor: http://www.csmonitor.com/2006/1211/p02s01-uspo.html
[2] Tax Expenditures: http://www.fee.org/publications/the-freeman/article.asp?aid=766
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