August 13, 2009
Tax Foundation Senior Economist Gerald Prante Quoted in Atlanta Journal-Constitution Article on Targeted Tax Breaks
"Tax-savings bill pays you to 'green' up home"
By Bob Keefe
A bill introduced by two Georgia congressmen could net you a $2,000 tax deduction for buying certain building products or home furnishings—everything from mattresses and kitchen cabinets to furniture, flooring and paint—between now and the end of 2011. ...
Critics, however, point out that industry-specific tax breaks typically don't do as much overall good as they might seem.
"The downside is that we have to pay for it somewhere or somehow, either by lowering spending or raising taxes elsewhere," said Gerald Prante, senior economist at the Tax Foundation, a right-leaning research group in Washington. "And if you have to raise taxes elsewhere, it's definitely not going to be better for society overall."
