Posts Tagged: expenditures

$1trillion+ in tax breaks now subject to Executive Branch review

Bipartisan legislation signed by President Obama last Tuesday will significantly change the way the government monitors and reports on its own performance. One of the most important reforms contained in the new law is a requirement that targeted tax breaks — or “tax expenditures” — finally be analyzed based on their success in contributing toward… Read more »

How does #dcgov record bad debt? The accountants have spoken

A questions was raised in one of my earlier blog posts about where #dcgov records bad debt and where can it be found for analysis? I have consulted our accounting brains and have an answer for those interested: In a nutshell, there are two types of outstanding debt: 1) Outstanding receivables (such as tax liability,… Read more »

President’s Budget Proposal Continues to Delay Taking a Closer Look at Tax Breaks

In recent hearings before the House Budget Committee, both Peter Orszag (OMB Director) and Jeffrey Zients (OMB Chief Performance Officer) have acknowledged the need to scrutinize “tax expenditures” — i.e. special tax breaks aimed at achieving specific policy goals. Mr. Zients even went so far as to express “100% agreement” with the notion of evaluating… Read more »