With the 2008 Budget being sent to Congress, the Tax Foundation’s Tax Policy Blog shows the cost of ten famous deductions, credits and exemptions. Read the article for the full story.
Meanwhile, Roth Tax Updates has the full details of the proposed budget (as far as taxes goes). Joe Kristan correctly points out that the tax gap closures, which total about $30 billion, are what’s most likely to pass Congress, along with another year of AMT relief.