Taxes: Trades Keep Tabs on Super Panel
At press time, the fate of the credit union tax exemption was still up in the air.
Members of the House-Senate committee trying to devise a plan to cut the deficit have been discussing an array of proposals, including some that would reduce tax expenditures.
Some of the Republicans on the 12-member committee offered a package that includes an array of tax increases and spending cuts, including the closing of some tax loopholes.
According to several press reports, the tax expenditures on the chopping block include items that could generate considerable revenue for the government, such as energy-related loopholes and real estate investment trusts.