More Tax Goodies For The Gop
IT'S CHRISTMAS IN JUNE FOR SOME INVESTORS AND WEALTHY HEIRS. Republicans are using a veto-proof bill to restructure and reform the Internal Revenue Service to enact select targeted tax cuts. The most significant: a proposal by House Ways & Means Committee Chairman Bill Archer (R-Tex.) to eliminate medium-term capital-gains tax rates on investments held between 12 and 18 months. Archer also beat back an attempt to restore higher taxes on estates worth more than $17 million. President Clinton doesn't like these add-ons to the IRS bill, but won't try to stop the popular measure.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Bitcoin Futures Deliver Wild Ride as Debut Brings Rally, Halts
- Investors Told to Brace for Steepest Rate Hikes Since 2006
- A Manager of $42 Billion Fears Bubble in World's Biggest Stocks
- Longtime NPR Host Tom Ashbrook Is Facing Misconduct Allegations
- Buffett's About to Get $3 Billion Back From Burger King Owner