Committee Looks At Loopholes In Va. Tax Code | WAMU 88.5 - American University Radio

WAMU 88.5 : Morning Edition

Filed Under:

Committee Looks At Loopholes In Va. Tax Code

Play associated audio

While lawmakers on Capitol Hill are considering revisions to the federal tax code, lawmakers in Virginia are evaluating their state tax code.  The Joint Legislative Audit and Review Commission is studying billions of dollars worth of credits, deductions and exemptions and the watchdog agency says only some work the way they were intended. 

Many of the tax preferences, such as sales tax relief for food, were enacted to achieve policy goals. In 2008, they reduced taxpayer liability by $2.9 billion. But Ellen Miller, the project leader for JLARC's recent tax report, says some goals to provide tax breaks for people with lower incomes also helped others.

 "Only two preferences, the age deduction and low income tax credit, did so efficiently and provided the majority share of the reduced liability to intended beneficiaries," Miller says.                                                                                                 

For example, tax breaks to help save for college were only somewhat effective. In other cases, "we found that preferences promoting the coal industry, nonprofit activity, and long-term care insurance were unlikely to achieve their goal," Miller says. The report recommends creating an oversight panel to assess all special tax preferences in the state. 

WAMU 88.5

Art Beat With Lauren Landau, Sept. 2

You can see a selection of Chinese films or meditate on the meaning of the word “axis” at an art exhibition.

NPR

These 5 Crops Are Still Hand-Harvested, And It's Hard Work

Saffron, vanilla, palm oil, cacao and cottonseed oil are still picked by hand in some parts of the world. Sometimes that manual labor shows up in the price of the food; sometimes it doesn't.
NPR

The Politics Of Calling In Sick

A growing grass-roots movement aims to establish paid sick leave in the U.S., enjoying some success at the city and state level. The issue is already playing big in 2014 political races.
NPR

Why Do We Blindly Sign Terms Of Service Agreements?

Audie Cornish talks with University of Chicago Law School professor Omri Ben-Shahar about terms of service agreements for software and websites.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.