Rep. Richard Neal (D-Mass.), the Ways and Means Select Revenue Measures subcommittee chairman, on Tuesday, Mar. 23 will host a hearing that examines how the budget will be effected if tax breaks set to expire in December are extended into the future.
The Congressional Budget Office recently projected that the federal budget deficit would hit $1.3 trillion in 2010 and decrease afterwards, assuming tax breaks enacted in 2001 and 2003 are allowed to expire. Neal will examine the budget impact if these tax breaks are extended.