A Middle Class Tax Cut Called The Ira?Paul Magnusson
The politically appealing idea of expanding tax-deductible individual retirement accounts has been advanced often by its chief advocate, Lloyd M. Bentsen. Now, Congress and the Clinton Administration are starting to appreciate the Treasury Secretary's persistence. As the President's January budget message and State of the Union speech enter the drafting phase, aides are saving space for a proposal that could be marketed as a fulfillment of Clinton's 1992 campaign pledge to provide the middle class with a tax cut.
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