Report: Tax breaks are costing Treasury a bundle

06/3/2013 | InvestmentNews (free registration)

Tax incentives for retirement savings rank as the third-highest annual tax expenditure and are increasingly skewed toward the wealthy, according to a report released last week by the Congressional Budget Office. Tax reform watchers fear lawmakers could make hay over the issue in negotiations to overhaul the tax code, while the Insured Retirement Institute argues that the tax breaks also benefit the middle class and encourage retirement savings.

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