Senate Panel Close to Approving Tax Cut Bill With Scaled-Down Exemption Plan

Ferris, Craig T.; Duff, Susanna
May 2003
Bond Buyer;5/9/2003, Vol. 344 Issue 31632, p4
Trade Publication
The Senate Finance Committee, working at a snail's pace, was nearing passage of a compromise $350 billion tax cut bill last evening that contains a drastically scaled-down plan to exempt dividends from taxation as well as a proposal to provide up to a total of$ 20 billion in aid to states and localities in 2003 and 2004.After a long day of delays that included a two-hour recess because the panel did not have a quorum present to consider the 152 amendments members had proposed, work speeded up in mid afternoon when the panel started through the list of amendments that included several that would aid municipal bonds.


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