Asbestos is found in rocks and soil. These mineral fibers have worked well for manufacturers for many reasons. For starters, theyâre flexible and resistant to heat, chemicals, and electricity. Thatâs why they were widely used for years to make construction materials, automotive parts, and even textiles.
A tax expenditure program is government spending through the tax code. Tax expenditures alter the horizontal and vertical equity of the basic tax system by allowing exemptions, deductions, or credits to select groups or specific activities.
The Congressional Budget Act of 1974 defines tax expenditures as ârevenue losses attributable to provisions of the Federal tax laws which allow a special exclusion, exemption, or deduction from gross income or which provide a special credit, a preferential rate of tax, or a deferral of tax liability.â These provisions are meant to support favored ...