Obama Directs Staff to Look at Tax Overhaul Options
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President Barack Obama has directed his economic team to begin analyzing options for overhauling the U.S. tax code as part of an effort to trim the long-term deficit, an administration official said.
No decisions have been made about what options to pursue or a timeline for presenting a plan to lawmakers, said the official, speaking on condition of anonymity because no formal action has been taken. Any changes likely would take years to implement.