Asbestos is found in rocks and soil. These mineral fibers have worked well for manufacturers for many reasons. For starters, theyâre flexible and resistant to heat, chemicals, and electricity. Thatâs why they were widely used for years to make construction materials, automotive parts, and even textiles.
A tax expenditure program is government spending through the tax code. Tax expenditures alter the horizontal and vertical equity of the basic tax system by allowing exemptions, deductions, or credits to select groups or specific activities.
The history of tax expenditures[edit] In 1967, the tax expenditure concept was created by Stanley S. Surrey, former Assistant Secretary of the Treasury, as a way to represent the political use of tax breaks for means that were usually accomplished through budget spending.