Tax expenditures chapter from the president's fiscal 1997 budget.

The tax expenditures analysis in the proposed fiscal 1997 budget shows the revenue losses incurred through exclusions, exemptions, credits, deductions, and similar tax preference items. Revenue loss, outlay equivalent, and present value accounting methods are used to estimate the expenditures through 2001. The budget considers performance measurements, the expenditures' economic effects, and explains the baseline concept utilized in calculating the expenditures.