How many tax expenditures are there

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Media Advisories Archive. Subscribe to Press Releases. Tax expenditures describe revenue losses attributable to provisions of Federal tax laws which allow a special exclusion, exemption, or deduction from gross income or which provide a special credit, a preferential rate of tax, or a deferral of tax liability.

These exceptions are often viewed as alternatives to other policy instruments, such as spending or regulatory programs. About Treasury About Treasury. Policy Issues. Tribal Affairs. National Debt National Debt to the Penny. International Reserve Position. Troubled Assets Relief Program Reports.

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Visit Vaccines. What are tax expenditures? Generally no, the estimates assume that taxpayers do not alter their choices about what activities to undertake. For example, the tax expenditure for mortgage interest deduction allows taxpayers to switch from itemizing deductions to taking the standard deduction if they are better off.

First, tax expenditures do not include the effects of changes in economic behavior. What is the difference between carryover basis and a step-up in basis? How could we reform the estate tax? What are the options for taxing wealth transfers? What is an inheritance tax? Payroll Taxes What are the major federal payroll taxes, and how much money do they raise?

What is the unemployment insurance trust fund, and how is it financed? What are the Social Security trust funds, and how are they financed? Are the Social Security trust funds real? What is the Medicare trust fund, and how is it financed? Excise Taxes What are the major federal excise taxes, and how much money do they raise?

What is the Highway Trust Fund, and how is it financed? Energy and Environmental Taxes What tax incentives encourage energy production from fossil fuels? What tax incentives encourage alternatives to fossil fuels? What is a carbon tax? Business Taxes How does the corporate income tax work? What are pass-through businesses? How are pass-through businesses taxed? Is corporate income double-taxed? Tax Incentives for Economic Development What is the new markets tax credit, and how does it work?

What are Opportunity Zones and how do they work? Taxes and Multinational Corporations How does the current system of international taxation work? What are the consequences of the new US international tax system? How does the tax system affect US competitiveness? How would formulary apportionment work? What are inversions, and how will TCJA affect them? What is a territorial tax and does the United States have one now? What is the TCJA repatriation tax and how does it work?

What is the TCJA base erosion and anti-abuse tax and how does it work? What is global intangible low-taxed income and how is it taxed under the TCJA?

What is foreign-derived intangible income and how is it taxed under the TCJA? Comprehensive Tax Reform What is comprehensive tax reform?

What are the major options for comprehensive tax reform? Broad-Based Income Tax What is a broad-based income tax? What would and would not be taxed under a broad-based income tax? What would the tax rate be under a broad-based income tax? National Retail Sales Tax What is a national retail sales tax? What would and would not be taxed under a national retail sales tax?

What would the tax rate be under a national retail sales tax? What is the difference between a tax-exclusive and tax-inclusive sales tax rate? Who bears the burden of a national retail sales tax? Would tax evasion and avoidance be a significant problem for a national retail sales tax? What would be the effect of a national retail sales tax on economic growth? What transition rules would be needed for a national retail sales tax?

Would a national retail sales tax simplify the tax code? What can state and local sales taxes tell us about a national retail sales tax? What is the experience of other countries with national retail sales taxes?

How would a VAT be collected? What would and would not be taxed under a VAT? What would the tax rate be under a VAT? What is the difference between zero rating and exempting a good in the VAT? Who would bear the burden of a VAT? Is the VAT a money machine? How would small businesses be treated under a VAT? What is the Canadian experience with a VAT? Why is the VAT administratively superior to a retail sales tax? What is the history of the VAT? How are different consumption taxes related?

Other Comprehensive Tax Reforms What is the flat tax? What is the X-tax? What are the benefits of return-free filing? What are the drawbacks of return-free filing? How would the tax system need to change with return-free filing? Who would qualify for return-free filing? Would return-free filing raise taxes? What was the experience with return-free filing in California? What other countries use return-free filing?

What are the sources of revenue for local governments? Specific State and Local Taxes How do state and local individual income taxes work? How do state and local sales taxes work? How do state and local property taxes work? How do state and local corporate income taxes work? How do state estate and inheritance taxes work? How do state earned income tax credits work? How do state and local severance taxes work? How do state and local soda taxes work? How do marijuana taxes work? Fiscal Federalism and Fiscal Institutions How does the deduction for state and local taxes work?

Who has health insurance coverage? Which tax provisions subsidize the cost of health care? How does the tax exclusion for employer-sponsored health insurance work? What are premium tax credits? What tax changes did the Affordable Care Act make? How do health savings accounts work? How do flexible spending accounts for health care expenses work? What are health reimbursement arrangements and how do they work?

How might the tax exclusion for employer-sponsored health insurance ESI be reformed? Taxes and Homeownership What are the tax benefits of homeownership? Do existing tax incentives increase homeownership? Taxes and Education What tax incentives exist for higher education? What tax incentives exist to help families pay for college?

What tax incentives exist to help families save for education expenses? What is the tax treatment of college and university endowments? Tax Complexity Why are taxes so complicated? What are the benefits of simpler taxes? What policy reforms could simplify the tax code? Wealth Transfer Taxes How do the estate, gift, and generation-skipping transfer taxes work?

Who pays the estate tax? How many people pay the estate tax? What is the difference between carryover basis and a step-up in basis? How could we reform the estate tax? What are the options for taxing wealth transfers? What is an inheritance tax? Payroll Taxes What are the major federal payroll taxes, and how much money do they raise? What is the unemployment insurance trust fund, and how is it financed? What are the Social Security trust funds, and how are they financed?

Are the Social Security trust funds real? What is the Medicare trust fund, and how is it financed? Excise Taxes What are the major federal excise taxes, and how much money do they raise? What is the Highway Trust Fund, and how is it financed? Energy and Environmental Taxes What tax incentives encourage energy production from fossil fuels?

What tax incentives encourage alternatives to fossil fuels? What is a carbon tax? Business Taxes How does the corporate income tax work? What are pass-through businesses? How are pass-through businesses taxed? Is corporate income double-taxed?

Tax Incentives for Economic Development What is the new markets tax credit, and how does it work? What are Opportunity Zones and how do they work? Taxes and Multinational Corporations How does the current system of international taxation work? What are the consequences of the new US international tax system?

How does the tax system affect US competitiveness? How would formulary apportionment work? What are inversions, and how will TCJA affect them? What is a territorial tax and does the United States have one now? What is the TCJA repatriation tax and how does it work? What is the TCJA base erosion and anti-abuse tax and how does it work?

What is global intangible low-taxed income and how is it taxed under the TCJA? What is foreign-derived intangible income and how is it taxed under the TCJA? Comprehensive Tax Reform What is comprehensive tax reform?

What are the major options for comprehensive tax reform? Broad-Based Income Tax What is a broad-based income tax? What would and would not be taxed under a broad-based income tax? What would the tax rate be under a broad-based income tax? National Retail Sales Tax What is a national retail sales tax?

What would and would not be taxed under a national retail sales tax? What would the tax rate be under a national retail sales tax? What is the difference between a tax-exclusive and tax-inclusive sales tax rate?

Who bears the burden of a national retail sales tax? Would tax evasion and avoidance be a significant problem for a national retail sales tax? What would be the effect of a national retail sales tax on economic growth? What transition rules would be needed for a national retail sales tax? Would a national retail sales tax simplify the tax code? What can state and local sales taxes tell us about a national retail sales tax?

What is the experience of other countries with national retail sales taxes? How would a VAT be collected? What would and would not be taxed under a VAT? What would the tax rate be under a VAT? What is the difference between zero rating and exempting a good in the VAT? Who would bear the burden of a VAT? Is the VAT a money machine? How would small businesses be treated under a VAT?

What is the Canadian experience with a VAT? Why is the VAT administratively superior to a retail sales tax? What is the history of the VAT?