A bill to require transparency in the tax code by requiring federally funded tax credits to be disclosed in the USASpending.gov website.
Tax Expenditures Accountability Act
This bill requires the Internal Revenue Service (IRS) to disclose information regarding tax credits for inclusion on the website established under the Federal Funding Accountability and Transparency Act of 2006. With respect to tax credits allowed for taxpayers (other than individuals) after the enactment of this bill, the IRS must disclose to the administrator of the website: (1) the name of the taxpayer, (2) the type of the tax credit allowed, and (3) the amount of the credit.
Introduced in Senate
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S6464-6465)
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