Monday, November 10, 2008

JCT Tax Expenditure estimates

I've commented in the past on the great work that's been going on at the Joint Committee on Taxation seeking to improve the usefulness of the tax expenditure concept by wresting it free of the irrelevant side-debate with which it was long intertwined concerning efforts to define a "normal" tax base.

The JCT has now issued what I believe are its first new set of annual five-year estimates using their revised methodology.

This advance deserves attention, and over time I hope will get it.

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