U.S. Sen. Tom Coburn is wrapping up his tenure in Congress with the release of a "Tax Decoder" report that criticizes hundreds of billions of dollars in federal tax expenditures, often for what he says are wealthy individuals and businesses.
Coburn held a news conference Tuesday in Washington for the release of the 320-page report that highlights tax fraud and the increasingly complicated nature of the federal tax code.
Read the full report here.
Oklahoma's junior U.S. senator who is retiring after 16 years in the U.S. House and Senate, Coburn has long pushed to streamline and simplify the tax code, and says many of the tax breaks identified in his report should be eliminated.
Among the tax write-offs highlighted in the report are for the purchase of sports franchises, movie production, and gambling losses.
