Flying Under the Radar: Time to Evaluate Tax Expenditures
The legislature is considering ways to balance the state budget. Despite some rhetoric to the contrary, there are plenty of mechanisms available for maintaining our investments in education, health care, and other public services. One option is to scrutinize tax expenditures to determine if any are obsolete or ineffective. Tax expenditures quietly drain the state of million of dollars in revenue every year. In fiscal year 2009 alone, we lost $375 million, which amounted to 20% of the state’s general fund budget that year.