The Progressive-Democrats, and too many Republicans, in Congress are trying to sort out what should be done about expiring tax breaks.
Here are some of the expiring or about to expire tax breaks:
- incentives for biodiesel production
- deductibility of private mortgage insurance
- tax credits for investing in low-income areas
- employers’ family-leave plans
- expansion of the earned-income tax credit
The answer is really quite simple and straightforward, if extremely difficult politically: let them all expire. Our Federal tax code should not be used for social engineering; it should be used solely for its constitutionally mandated purpose: to fund our Federal government.