Tax expenditures: spending by another name.
A tax expenditure program is government spending through the tax code. Tax expenditures alter the horizontal and vertical equity of the basic tax system by allowing exemptions, deductions, or credits to select groups or specific activities. For example, two people who earn exactly the same income can have different effective tax rates if one of the tax payers qualifies for certain tax expenditure programs by owning a home, having children, and receiving employer health care and pension insurance.
It's understandable why Congress has grown so attached to tax expenditures. It's a way to spend without blame. In fact, Congress is more likely to take credit for reducing taxes.
That's Washington. How about Richardson?
