April 2005
Search    

Money, money, money | Capitol Hill

Capitol Hill not ratednot ratednot ratednot ratednot rated

Money, money, money

by Craig S. Brightup
Be the first to comment


April 15 is the date on which most Americans file personal income tax returns. The White House and both parties in Congress will use the week of April 15 to spotlight pro-taxpayer initiatives. But with Republicans controlling the executive and legislative branches, it is their tax proposals that establish debate parameters. However, such proposals ultimately must generate bipartisan congressional support to become law.

On Jan. 7, President Bush announced the establishment of a bipartisan panel to recommend options to reform the tax code. The panel's charge is to make the tax code simpler, fairer and more pro-growth to benefit all taxpayers. Former Sens. Connie Mack (R-Fla.) and John Breaux (D-La.) are chairman and vice-chairman, respectively, of the President's Advisory Panel on Tax Reform. The panel will submit to the secretary of the treasury a report containing revenue-neutral policy options for reforming the federal Internal Revenue Code no later than July 31.

Early indications suggest the panel is more interested in incremental changes to the current system rather than sweeping changes to replace it.

For example, the panel appears to be much more interested in a value-added tax, which is a consumption tax, rather than a flat tax that would do away with all deductions and establish one...



To read the article in its entirety, please log in or register (registration is free).

Log in or register for FREE access to this article and other Professional Roofing online content.

Not a professionalroofing.net user?

Register now for free access
  • Full access to every article
  • Online Web exclusive information
  • Photo gallery
  • Breaking news
  • Online classified ads

Already a professionalroofing.net user?

Log in now

User name:

Password:

 


Login help
Click here to have your user name and password emailed to you.




Comments (0) Login to post a comment or rating
There are no comments posted.

NRCA NRCA