Expenditure / Tax Expenditure (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Expenditure / Tax Expenditure photo credit: 401K Expenditure: The actual spending of money; an outlay. Tax Expenditure: Loss of revenue attributable to an exemption, deduction, preference, or other exclusion under federal tax law.   What are tax expenditures?   Also see “Government Spending” – Wikipedia … Read more

Basic Federal Budgeting Concepts and Terminology

The federal budget process typically involves a rather complex series of legislative and executive procedures and various financial transactions. photo credit: Evelyn Proimos The term Revenue refers to income that is received by the federal government. (The executive branch also uses receipts as a term for revenue.) Revenue may be raised from a variety of … Read more