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Tuesday, July 28, 2020 | History

4 edition of Using tax expenditures to achieve energy policy goals found in the catalog.

Using tax expenditures to achieve energy policy goals

Gilbert E. Metcalf

Using tax expenditures to achieve energy policy goals

by Gilbert E. Metcalf

  • 179 Want to read
  • 34 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English


Edition Notes

StatementGilbert E. Metcalf.
SeriesNBER working paper series -- working paper 13753, Working paper series (National Bureau of Economic Research : Online) -- working paper no. 13753.
ContributionsNational Bureau of Economic Research.
Classifications
LC ClassificationsHB1
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL17087053M
LC Control Number2008610514

Tax expenditures—special tax credits, deductions, exclusions, exemptions, deferrals, and preferential tax rates—substantially reduce the revenue the government collects from federal income taxes but can help achieve national social and economic goals. However, it is not always easy to determine how successful tax expenditures are in achieving their intended policy goals.   As tax reform, particularly corporate reform, rises as a necessity to bolster the private sector while limiting government spending, tax expenditures are coming center stage. The sheer number of incentives bundled into the tax code, in concert with direct expenditure and loan guarantee programs, complicates our ability to determine how federal policy shapes capital investment in energy .

Tax Expenditures: Concept and Framework for Analysis Thomas F. Pogue I. Introduction Tax expenditures arise when governments try to accomplish objectives using special tax provisions rather than other expenditure policies such as appropriations (direct spending), regulations, loans, and Size: 94KB. Press release. 28/01/ OECD calls for better alignment of energy policy, public finances and environmental goals Summary. Review the Executive Summary of Taxing Energy Use.. The Overview section of Taxing Energy Use provides background information on energy taxation, explains the structure of the country graphs or 'maps' and the methodology used, and sets out a cross-country .

The tax expenditure budget displays the estimated revenue losses from special exclusions, exemptions, deductions, credits, deferrals, and preferential tax rates in federal income tax law. Every year, the Office of Management and Budget (OMB) and the congressional Joint Committee on Taxation (JCT. Tax expenditures are defined in the law as “revenue losses attributable to provisions of the Federal tax laws l- which a low a special exclusion, exemption, or deduction from gross income or which provide a special credit, a preferential rate of tax,File Size: 1MB.


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Using tax expenditures to achieve energy policy goals by Gilbert E. Metcalf Download PDF EPUB FB2

Download Citation | Using Tax Expenditures to Achieve Energy Policy Goals | Tax expenditures are a major source of support for energy related activities in the federal budget exceeding direct Author: Gilbert E.

Metcalf. Tax expenditures are a major source of support for energy related activities in the federal budget exceeding direct budget support for energy by a factor of nearly six.

Focusing on the policy goals of reducing greenhouse gas emissions and petroleum consumption, I find these tax expenditures highly cost ineffective at best and counterproductive at worse. Tax expenditures are a major source of support for energy related activities in the federal budget exceeding direct budget support for energy by a factor of nearly six.

Focusing on the policy goals of reducing greenhouse gas emissions and petroleum consumption, I find these tax expenditures highly cost ineffective at best and. Tax expenditures are a major source of support for energy related to activities in the federal budget exceeding direct budget support for energy by a factor of nearly six.

Focusing on the policy goals of reducing greenhouse gas emissions and petroleum consumption, I find these tax expenditures highly cost ineffective at best and counterproductive at worse. Using Tax Expenditures to Achieve Energy Policy Goals by Gilbert E.

Metcalf. Published in vol issue 2, pages of American Economic Review, May (May ) The AEA is providing open access to all journal content on the AEA website through August Energy Tax Policy: Historical Perspectives on and Current Status of Energy Tax Expenditures Molly F.

Sherlock solely designed to achieve the other goal. For example, subsidies to oil and gas producers, while consequences. By providing a longitudinal perspective on energy tax policy and expenditures. Tax expenditures often aim to achieve policy goals similar to those of federal spending programs.

For example, some tax expenditures are intended to encourage economic development in disadvantaged areas, finance postsecondary education, or stimulate research and development. If. today to discuss energy policy and tax reform. Lawmakers have used the tax code to influence energy markets for almost a century.

Early efforts focused on promoting the development of domestic oil and gas resources. Following the energy crises of the s, new tax incentives were created for alternative energy sources and energy efficiency.

The goal is not to eliminate tax expenditures, which are neither good policy nor bad policy per se. Tax expenditures are one of a policymaker’s tools for achieving policy goals; like other tools, they can be put to good use or abused, and like other tools, their use should be transparent and accountable.

BibTeX @MISC{Metcalf08thesource., author = {Gilbert E. Metcalf and Gilbert E. Metcalf and Gilbert E. Metcalf}, title = {the source. Using Tax Expenditures to Achieve Energy Policy Goals}, year = {}}. Tax expenditures are a major source of support for energy related to activities in the federal budget exceeding direct budget support for energy by a factor of nearly six.

Focusing on the policy goals of reducing greenhouse gas emissions and petroleum consumption, I find these tax expenditures highly cost ineffective at best and Author: Gilbert Metcalf.

Tax expenditures are used widely and cover the entire tax system, including personal and corporate income taxes as well as energy taxation and VAT. Their impact on government revenues is substantial.

In the US, the federal government is estimated to have foregone USD trillion through tax expenditures ini.e. roughly % of GDP. The Value of Energy Tax Incentives for Different Types of Energy Resources Congressional Research Service 1 ince the s, policymakers have increasingly used the tax code to promote energy policy goals.

Long-term energy policy goals include providing a secure supply of energy,File Size: 1MB. The government attempts to achieve this goal by providing many individual tax expenditures to middle- and low-income taxpayers to encourage spending.

However, many of the tax expenditures fail to meet their goals and create an unintended economic reality of a small tax base and decreased revenues. Using Tax Expenditures to Achieve Energy Policy Goals American Economic Review,98, (2), View citations (8) See also Working Paper () A comment on the role of prices for excludable public goods International Tax and Public Finance,14, (6), View citations (2) See also Working Paper () Corporate Tax Reform.

Using tax expenditures to achieve energy policy goals. [Gilbert E Metcalf; National Bureau of Economic Research.] -- Tax expenditures are a major source of support for energy related activities in the federal budget exceeding direct budget support for energy by a factor of nearly six.

Download PDF: Sorry, we are unable to provide the full text but you may find it at the following location(s): (external link)Author: Gilbert E. Metcalf. Thus, tax expenditures often are alternatives to direct spending programs or regulations to accomplish the same goals.

The Office of Management and Budget (OMB) and the Congressional Joint Committee on Taxation (JCT) each year publish lists of tax expenditures.

General Explanations of the Administration’s Fiscal Year Revenue Proposals Department of the Treasury February This document is available online at. Download the full testimony (pdf). I am honored to be given the opportunity to share my findings with you about how many existing provisions of the U.S.

tax code directly inhibit the cost-effective commercialization and deployment of clean, homegrown energy, what can be done to remedy this, and how these actions will help jumpstart the U.S.

economy and restore our leadership in what. Energy Tax Policy: Issues in the th Congress Congressional Research Service 2 The Appendix thof this report provides a brief summary of energy tax legislation from the through th Congresses that has shaped current energy tax policy.

Policy Intervention in Energy Markets The primary goal of taxes in the U.S. economy is to raise revenues.Focusing on the distributional impacts of energy taxes is too narrow a framework. The United States relies much more heavily on regulation than taxation to address energy-related market failures.

It argues that most regulatory policies and tax subsidies to achieve energy policy goals are : Gilbert E. Metcalf.J. Goldemberg, in International Encyclopedia of the Social & Behavioral Sciences, Energy policy is a special sector of policy dealing with energy problems. Energy (i.e., the capacity to realize work) is an essential ingredient of the activity of human beings.

The minimum average energy requirement for an adult human to stay alive is about 1, kilocalories per day.