Where Is the Tax Exemption Chorus? Editor/Publisher's Column
Senate Finance Committee Chairman Max Baucus and Ranking Member Orrin Hatch have sent a letter to their colleague stating that they want to start with a clean slate on tax reform. It would be excellent if that really happens. Programs would have to prove that they provide value in order to receive tax exemptions. The senators’ letter described the tax code as “littered with preferences for special interests.”
The exemptions that make it through the process, according to the senators, will have to provide evidence of economic benefit, that they make the tax code fairer or effectively promote other important policy objectives.