Wednesday, August 21, 2013
Cato Institute, Downsizing the Federal Government:
Update from the Cato Institute:
They raise good questions Paul. Here’s the answer:
According to official budget scorekeeping, the outlays from the refundable credits are part of the “IRS budget.” However, I split out IRS administration from the credits in this recent blog.
The Cato chart program simply grabs data for all federal agencies
from the OMB’s main spending database, which is available here.
The only thing we do is convert the nominal dollars to constant dollars (using
an OMB deflator) to remove the effects of inflation.
You can clearly see that refundable credits are part of the IRS
budget in this table from the most recent federal budget. (Go to the Treasury, and then scroll down until you find the IRS).