/2_5 d 1$&%)'*-qqR^Individual Tax Expenditures, Fiscal 1996-2002, A Detailed List ($-billions)^Individuals       ^1996-2002^TOTAL, INDIVIDUALS x?Üw@ T[x@ zԾy@ R>{@ |@ co~@ ~@ ԧ@G^Individual Tax Expenditures for Business, Savings and Investment#'Capital gains (except homes) lxz,?@ [B>`@@ /'OA@ *:$B@  cZBC@ uC@ JߣفD@ $C4o@9' Exclusion of capital gains on inherited property = ףp5@ Q6@ Hz7@ {G8@ Q9@  cEm:@ dS;@ 5e@2' 28% maximum individual capital gains rate  o_~ @ a2U0*!@ <"@ m4p$@ :M=&@ 223(@ 뙑U*@ %H>IR@2' Carryover basis of capital gains on gifts = ףp=? ffffff? )\(? Q? Gz? = ףp=? ;,f? ɱs.@* ' Deferral on like-kind exchanges  333333?  333333?  (\?  ?  ?  ?  ?  RQ@ 'Insurance products  ffffff!@  333333*@  2@  = ףp7@  ףp= W<@    |?@  j7c@8 ' Exclusion of interest on life insurance savings  ffffff!@  333333*@  2@  = ףp7@  ףp= W<@    |?@  j7c@4 'Tax free bonds, public (excludes S&L savings)  kլ @  kլ @  9 @  Q @  $@  A{@  ,@  W-'c:@5 'Tax-free bonds, private (excludes non-profits)  !=a@  qᝣ@  ,_^x@  @  bB@  o z@  >y~@  'GnZD@' Mortgage subsidy bonds (HJ@ P@ |g*@ Tx~v@ kjZ@ RmW@ J_`@  J3@' Rental housing bonds  .? _t~? 3?;? 3?;? 3?;? 3?;? 3?;? EC)v "@0' Private nonprofit health facility bonds ? ? -J8? *k2Z? G? @`? ݪ? z @' Student loan bonds /i? e'? e'? e'? iH|? K9? Na? I2@8' Airports, docks, sports & convention facilities nE? t? y ? 3C? KC3? ,]? s%%? Rv?5' Private nonprofit educational facility bonds rOMz? rOMz? O? O? O? O? O? P ?3' Pollution control, sewage & waste disposal 2j? 2j? 2j? 2j? 2j? 2j? 2j? gfw}?1' Small issue industrial development bonds h6 ? Q%? w? 3C? O=4 ? _/ k? *Z? quf?' Veterans housing bonds ? `֝Qu? +? xV ? ưOi? s<@? q%? i???' Energy facility bonds m? g ? N/? ͻ'? RT? *D? ^u? ֖ͷ?'Accelerated depreciation x%@ &1%@ x%@ Pn$@ ;O#@ ޑb}#@ FP '"@ lQ@.' Accelerated depreciation of machinery Q^@ zG!@ @ Gz@ Q@ @ ~}}}}}@ E@3' Accelerated depreciation on rental housing zG@ Gz@ ףp= W@ (\B@ 33333@ {G@ $I@ :1@8' Accelerated dep. of bldgs. (w/o rental housing)  ףp= ? (\? Q? zG? )\(? (}'}? SmC? ӔF@1' Expensing of small equipment investments q= ףp? Q? Gz? )\(? ? Q? =On? K7?0' Amortization of business start-up costs Q? ףp= ? ףp= ? )\(? )\(? {Gz? Kg? i5Ù?:' Tax incentives for preserving historic structures B`"۩? ~jt? K? K? K? kt? D kΤ?  d?6' Expensing for removing architectural barriers ~jth? ~jth? ~jth? ~jth? ~jth? ~jth? ~jth? /$? 'Low-income housing credit  = ףp=?  Q@  (\B@  @  @  0bo@  Gz_@  urS1@%!'Business meals & entertainment !(\o@ != ףp=@ !fffff@ !&@@ !: (0@ !06Dޙ@ !u@ !Qx0@"'Multinational tax breaks "\(\? " "Qk@ "{G@ "(\B@ "Q@ "1^I@ " 0@4#' Exclusion of income abroad by U.S. citizens #\(\? # #Qk@ #{G@ #(\B@ #Q@ #1^I@ # 0@$'Oil, gas, energy $ꕲ q? $e-? $+c}? $,"? %i? %N? %MG?+&' Alternative fuel production credit &? &? &Q? &q= ףp? &)\(? &zG? &釚~? &c9v?;'' Exclusion of conservation subsidies from utilities '333333? '{Gz? '(\¥? '(\¥? ' ףp= ? ' ףp= ? ' ףp= ? ' ףp= ?<(' Oil and gas, expensing of intangible drilling costs (Mb` (/$? (Zd;O? (L7A`? (~jt? (~jt? (~jt? (䥛 ?0)' Tax credit & deduction for clean-fuel )Mb? ) ? )u7O? )};? )çJ? )aC? )(eW? )h>?**' Other fuels, percentage depletion *X9v? * x#ȏ? *jIy? *٬? 0? 0uʣ ? 0ףp= ? 0? 0O՝1`? 0}ͦ?(1' Cash accounting for agriculture 1333333? 1333333? 1333333? 1333333? 1333333? 1333333? 1333333? 1?32' Expensing of multiperiod agriculture costs 2oŏ1? 2HLP÷? 2BSZ? 2>#a? 2?`? 2q'D~o? 23ģ? 2NPC?/3' Percentage depletion, nonfuel minerals 3y&1? 3Zd;? 3Zd;? 3Zd;? 3Zd;? 3L7A`? 3%>G? 3Ol6Ӆ?54' Expensing of soil & water conservation costs 4y&1? 4y&1? 4y&1? 4Zd;? 4Zd;? 4Zd;? 4Zd;? 4|?5^?65' Loans forgiven solvent farmers as if bankrupt 5Q? 5Q? 5Q? 5Q? 5Q? 5Q? 5Q? 5zG?96' Credit and 7-year amortization for reforestation 6:v? 6X9v? 6X9v? 6X9v? 6X9v? 6X9v? 6X9v? 6A`"?+7' Exclusion of cost-sharing payments 7I +? 7@Lj? 7EB? 7%r? 7&1}? 7CPv $? 7J֋q? 7 1|C?98' Expensing of exploration costs, nonfuel minerals 8{Gz? 8DioɄ? 8W? 8qnPm? 8i Å? 8IMh? 88Sv? 8elpIJ?69' Special rules for mining reclamation reserves 9Mbp? 9~jth? 9~jth? 9~jth? 9~jth? 9~jth? 9~jth? 9I +?:'Installment sales :)\(? :RQ? :Gz? := ףp=? :ffffff? :(\? :ʻ? :.0y@;'Empowerment zones ;Q? ;(\? ;zG? ;? ;333333? ;#V? ;̾?? ;EJN@<'R&D tax breaks <:v? </$? </$? <bX9Ȧ? <bX9Ȧ? <Mb? <yj? <?6=' Expensing of research & experimentation costs =/$? =/$? =/$? =bX9Ȧ? =bX9Ȧ? =Mb? =yj? =?2>' Credit for increasing research activities >{Gz? > > > > > > >{Gz?"?'Other business & investment ?/$? ?K? ?{Gz? ?<,Ԛ? ?? ?V3? ? - @ ?4{"*@.@' Deferral of interest on savings bonds @HzG? @Fx? @p= ף? @ףp= ? @zG? @?? @3]B ? @SL$@-A' Exceptions to imputed interest rules Affffff? AQ? AQ? A ףp= ? A ףp= ? A ףp= ? A ףp= ? A?/B' Cash accounting other than agriculture BJ +? BJ +? B{Gz? B ףp= ? B? Bqq? B[ <ݚ? BzܰV@ I| }pX@ I?yY@ If8Z@ IKD@J'Pensions, Keoghs, IRAs J ףp=R@ JzGR@ Jq= ףpS@ J(\T@ JGzT@ J*9U@ J N U@ JS‘@K' Employer pension plans KGz>O@ KzGO@ K(\6P@ KfffffP@ K= ףp!Q@ KbFX.Q@ Ksb!kR@ K!@ Z?@ ZY ~@@ ZGETUi@2[' Earned-income tax credit, refundable part [Hz2@ [33333s4@ [zGA5@ [,6@ [(\57@ [= ףp8@ [ٚS'9@ [G4 J]c@2\' Earned income credit, non-refundable part \Gz@ \@ \ףp= @ \HzG@ \Qk@ \ ףp= @ \ @ \y8eG@ ] ] ] ] ] ] ] ]+^'Social Security benefits (exclusion) ^zG7@ ^Q+8@ ^HzG9@ ^zG:@ ^Q;@ ^%X<@ ^ط/ I>@ ^;38g@_'Capital gains on homes _Q4@ _Q4@ _= ףpm5@ _Hz5@ _Q6@ _ 7$}^7@ _e]V7@ _ĿHc@0`' Deferral of capital gains on home sales `Hz-@ `q= ף.@ `p= /@ ` ףp=z0@ `Gz1@ `&Y1@ `´&2@ `*\@7a' Capital gains exclusion on home sales, over 55 aR@ a@ aGz@ a(\@ a(\O@ acB,@ a` @ am4sWC@&b'Other fringe benefit exclusions bʡES)@ bףp= *@ b(\b,@ b(\O.@ bQ0@ bQ$1@ bԁݵ/2@ bOSZ@&c' Miscellaneous fringe benefits c@ c@ c@ c@ c@ czz@ c:`1& @ cÐ!E@"d' Group term life insurance dGz@ dGz@ d33333@ d@ d@ dC}@ d7t$ @ d&8P3@.e' Employer-paid transportation benefits e= ףp=? effffff? e? eףp= ? e ףp= @ exwwww@ e-ݢHl@ eX +@4f' Cafeteria plan fringe benefits (non-health) fL7A`? f? f? f? f? fd9? fnr%@ fv&@%g' Employer provided child care g? gGz? gp= ף? gHzG? g? gRQ? g _2? gxy@0h' Employee meals & lodging (non-military) hQ? h333333? hGz? hףp= ? hffffff? h(\? hcX9? h @i' Parsonage allowances iQ? i333333? iףp= ? ip= ף? iHzG? iGz? i[;? i$FAq@3j' Voluntary employee benefits assn. benefits jp= ף? jp= ף? j= ףp=? j(\? jףp= ? jȹ. 6? jyz? j0@*k' Accident and disability insurance kQ? k\(\? k? kp= ף? kHzG? kQ? kGJU? k!?l' Employee awards l)\(? lQ? lp= ף? lQ? lQ? lQ? lQ? lq= ףp?)m' Employer provided death benefits mp= ף? mp= ף? mp= ף? mQ? mQ? m333333? m$I$I? mb?$n'Workmens compensation., etc. nR@ n@ n9⪲@ nj1@ nc@ nLO@ neR&@ n@~C@(o' Workmen's compensation benefits o(\@ o@ o(\µ@ oGzn@ o333333@ o aݢ6@ oMG@ o??.A@#p' Public assistance benefits pq= ףp? p? pQ? pGz? pQ? p? p? pT/ܗ@2q' Special benefits for disabled coal miners qRQ? qx&1? q)rw? q_vd? qCh? q|? qg#j`~? qK-o?%r'Soldiers & veterans exclusions r ףp=J@ rp= @ r(\@ r)\(@ r(\@ rnԂ@ r÷Y<@ rqLA@,s' Benefits and allowances to soldiers s= ףp=@ sRQ@ sHz@ szG@ s\(\@ s&u@ sRPX_@ s:oo-@)t' Veterans disability compensation tGz@ tp= #@ tףp= @ tq= ף@ t)\@ t{Gz@ tԗBT@ t/2@%u' Military disability benefits uq= ףp? uq= ףp? uq= ףp? uq= ףp? uq= ףp? uq= ףp? uq= ףp? u(\?v' GI bill benefits vQ? v ףp= ? v? v)\(? vGz? v?c ? v&AM ? v= 9K?w' Veterans pensions w(\µ? w(\µ? w(\µ? wffffff? wGz? wRQ? wp\'0? wtW?$x'Child & dependent care credit x(\B@ xQ8@ xR@ x\(@ xQ @ x$2 @ x72 @ x?&J5@y'Elderly & blind y(\? yQ? yGz? y(\? yRQ? y88@ yac9 @ y/X)@5z' Increased std. deduction for blind & elderly z\(\? zQ? z ףp= ? zQ? zp= ף? zEx? zTe@ zHJ (@5{' Tax credit for low-income elderly & disabled {333333? {333333? {{Gz? {{Gz? {(\¥? {(\¥? {(\¥? {Gz?|'Other personal |L@ |x#|@ |p'v@ |b@ |#p@ |v@ |-V@ |@ o1@0}' Exclusion of scholarships & fellowships })\(? }Q? }? }(\? }Q? }p= ף? }N4K? }l@9~' Parental personal exemption for students age 19+ ~ףp= ? ~m4@? ~$D? ~Y? ~p$A? ~x2? ~2[U{? ~LI I@5' Deduction for self-employed health insurance ? 333333? 333333? ffffff? ffffff? ffffff? ffffff? @2' Exclusion of certain foster care payments ? )\(? )\(? )\(? Q? Q? Q? HzG?9' Exclusion of savings bond interest for education ? X9v?  qh? rw? t ? Ƭƿ? W3Jd? L|w?        !^Total, Personal Activities }l@ PCm@ 4Dlo@ pp@ ˏuq@ D"H9er@ [bs@ B @n'Sources: Joint Committee on Taxation, Estimates of Federal Tax Expenditures for Fiscal Years 1996-2000,' Sept 1, 1995. Office of Management and Budget, Budget of the United State Government, Fiscal Year 1997, Analytical Perspectives, Tax Expenditures'1996). Institute on Taxation and Economic Policy Microsimulation Tax Model (April 1996). Figures are generally averages from the first two sources, m'except where an item was listed in only one source or one source was based on more current information'or otherwise appeared to be more accurate). Tax-exempt interest benefits were recalculated and reallocated to take account of lower interest rates received by bondholders,X' benefits to borrowers and other factors. A few items, such as business meals ande'entertainment, are not on either list, and were calculated by Citizens for Tax Justice (1996).)' All figures are for fiscal years.