Q & A: What is an offset?

What is an offset? With the announcement of the President’s tax proposal, many questions have arisen about whether the plan will be “offset”. In legislative budgeting an “offset” means that any spending is balanced out by cutting expenditures or raising revenues elsewhere. Those are called “pay-fors.” When it comes to taxation, eliminating a tax deduction or … Continue reading Q & A: What is an offset?