Democrats in Congress see cutting the budget and other tax-related breaks as a viable way to raise enough revenue to ease spending cuts to keep the deficit from exploding.
Republicans have expressed their continued interest to ending some of the special tax breaks involved, but they have insisted that any new revenue be used in lowering taxes, not for increasing spending.
The ongoing dispute continues to be played out as both sides are tasked with merging budgets written by Senate Democrats and House Republicans.
On the list: Deductions for businesses that pay their executives in options rather than salary, lowered tax rates for private equity advisors and hedge fund managers, provisions which help lawyers, consultants, doctors and several other professionals who incorporate avoid taxes through Medicare, and easier ways for corporations to gain tax relief on foreign profits.
Among other tax breaks that are highlighted:

• Lower tax rates when it comes to private equity advisors and hedge fund managers.
  These financial wizards usually report their fees as capital gains, topping out at 23.
  8%.
  If their income, also known as their "carried interest," is taxed like normal taxpayers, they could be taxed a whopping 39.
  6%.
  Taxing a person's carried interest as typical income would help the country raise $16 billion in the next 10 years, according to Obama's budget proposal.
  
• Wealthy consultants, doctors, lawyers, entrepreneurs and all other professionals may avoid paying Medicare payroll taxes through setting up businesses and accepting most of their pay as corporation income rather than wages.
  All pay is subject to the government's 2.
  9% Medicare tax, but there is a 0.
  9% additional tax applied to pay that is over $125,000 for singles and $250,000 for married couples filing jointly.
  On the other hand, business income isn't subjected to Medicare's taxation laws.
  By ending this break, the government can raise over $12 billion in the next 10 years.
  
• Another break Democrats are suggesting is deducting the mortgage interest for vacation yachts or homes.
  Taxpayers will be able to deduct any paid mortgage interest on second homes, which includes house trailers, boats, mobile homes and any other similar property that comes equipped with toilet, sleeping and cooking facilities.
  Limiting this deduction can raise $15 billion or more over the next decade.
  

Even though both parties have been very adamant about finding a solution to the budget issue, neither side has really given any ground.
As the issue of the deficit and what tax relief to offer continues to loom, Democrats and Republicans have to find a middle ground soon.