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Raising Revenue by Limiting Tax Expenditures

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  • Martin S. Feldstein

Abstract

Limiting tax expenditures can raise revenue without increasing marginal tax rates. Such a policy is equivalent to reducing government spending now done as subsidies through the tax code for a wide range of household spending and income. This paper explores one way of limiting tax expenditures: a cap on the total reduction in tax liabilities that each individual can achieve by the use of deductions and exclusions. The analysis describes the revenue effects and the distributional consequences of such a cap, and examines the sensitivity of these results to various design features.

Suggested Citation

  • Martin S. Feldstein, 2014. "Raising Revenue by Limiting Tax Expenditures," NBER Working Papers 20672, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:20672
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    Cited by:

    1. Salvador Barrios & Serena Fatica & Diego Martinez & Gilles Mourre, 2015. "The fiscal effects of work-related tax expenditures in Europe," European Economy - Economic Papers 2008 - 2015 545, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.

    More about this item

    JEL classification:

    • H2 - Public Economics - - Taxation, Subsidies, and Revenue

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