Tax Expenditure Review Act

[AI summary unavailable — showing source text] Tax Expenditure Review Act - Amends the Rules of the Senate and House of Representatives to prohibit the consideration of any bill or amendment providing special tax exclusions, exemptions, deductions, preferences, deferrals or credits which would not expire within four years. Prohibits bills or amendments which would extend such tax expenditure provisions without prior cost-benefit studies by the Committees on Ways and Means and Finance. Declares it out of order to consider any bill or amendment which contain or entail the ultimate consideration of more than one tax expenditure provision. Schedules specified tax expenditure provisions for termination after 1979, subject to earlier cost-benefit analyses by the Ways and Means and Finance Committees recommending their retention.…