Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Businessweek Archives

The Budget

Washington Outlook


Congress has been slugging it out for years over ways to cap spending. But one huge cause of the budget deficit is often ignored: tax loopholes. According to a new General Accounting Office report, special-interest tax breaks will cost the Treasury $400 billion in revenue this year--twice the deficit. And while spending for defense and many domestic programs is frozen, tax breaks keep growing at a 4% annual clip, after inflation. Now, the GAO and the Office of Management & Budget hope to curb the revenue drain by turning a spotlight on the loopholes. And House Ways & Means Committee member William J. Coyne (D-Pa.) is pushing the panel to review the breaks as a way to reduce the deficit.

blog comments powered by Disqus