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Philip Webre of CBO's Natural Resources and Commerce Division wrote the report under the supervision of Jan Paul Acton and Elliot Schwartz. The Natural and Physical Resources Cost Estimating Unit and the Tax Analysis Division made substantial contributions in both estimates and content. The author also appreciates the comments of George Eads, Robert Hartman, Rosemary Marcuss, William Randolph, Pearl Richardson, Frank Sammartino, and Aaron Zeisler.
Sherry Snyder edited the manuscript, and Christian Spoor provided editorial assistance. Donna Wood, Marlies Dunson, and William Boswell typed the many drafts. Kathryn Quattrone prepared the study for publication.
ONE -
INTRODUCTION
Determining What Constitutes Business Support
Business Support Versus "Corporate Welfare"
TWO -
ISSUES IN DEFININGAND MEASURING FEDERAL SUPPORT OF BUSINESS
Spending Programs
Credit Programs
Tax Expenditures
Federal Activities That Are Not Counted asBusiness Support
THREE
- FEDERAL ACTIVITIES THAT SUPPORT BUSINESS
Tax Expenditures
Spending Programs
Credit Programs
FOUR -
DISTRIBUTION OF FEDERAL SUPPORT AMONG BUSINESS SECTORS
Support Targeted Toward a Specific BusinessSector
Tax Expenditures That Benefit More ThanOne Sector
Targeted Support in Its Industrial Context
Effects of Tax Support on Investment byBusinesses
Technology Programs
APPENDIXES
A Estimated
Tax Expenditures That Support Business
B Estimated
Program Outlays ThatSupport Business
C Estimated
Credit Activity and Outlays That Support Business
TABLES
S-1. Selected Federal Tax Expenditures That Support
Business, 1995
S-2. Federal Expenditures and Credit Activity That
Support Business, 1995
1. Federal Expenditures and Credit Activity That
Support Business, 1995-1999
2. Selected Federal Tax Expenditures That Support
Business, 1995-1999
3. Selected Federal Spending Programs That Support
Business, 1984 and 1995
4. Selected Federal Credit Programs That Support
Business, 1984 and 1995
5. Targeted Federal Support for Agriculture
6. Targeted Federal Support for Manufacturing
7. Targeted Federal Support for Mining
8. Targeted Federal Support for Utilities and
Sanitary Services
9. Targeted Federal Support for Transportation
10. Targeted Federal Support for Finance, Insurance,
and Real Estate
11. Illustrative Allocation of Multisector Tax
Expenditures by Sector
12. Federal Business Support in an Industrial Context
13. Marginal Effective Corporate Tax Rates by
Type of Asset
14. Marginal Effective Corporate Tax Rates by
Sector
15. Federal Outlays for Technology Commercialization
Programs in 1995 by Budget Function
A-1. Estimated Tax Expenditures by Budget Function
B-1. Estimated Outlays for Spending Programs by
Budget Function
C-1. Estimated Obligations, Commitments, and Outlays
for Credit Programs by Budget Function