Washington Update | AccountingWEB

Washington Update

They're at it again. As the dog days of summer grind on in
Washington, politicians on both sides of the aisle are scrambling to conclude their annual "lets-change-the-tax-code" dance before the Labor Day recess. The "Financial Freedom Act of 1999" includes proposals for a 10% across-the-board tax rate reduction; marriage tax penalty relief; incentives for specific savings and investments; education, health care and death tax relief; and much more. The goal: use up some of the $1 trillion surplus projected for the next few years. See the full proposal:

http://www.house.gov/ways_means/fullcomm/106cong/fc-10act.htm

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