Senate, House Begin Process Of Reconciling Tax-Cut Bills

Duff, Martin Z.
May 2003
Bond Buyer;5/19/2003, Vol. 344 Issue 31638, p1
Trade Publication
The article reports on the plans of U.S Senate and House to reconcile two vastly different tax-cut plans that could result in a final package that gives aid to states and localities and reduces or eliminates the taxation of dividends without creating a threat to the municipal bond market. Their assessments came after the Senate passed a tax package that would provide $20 billion in aid to states and includes a reworked dividend plan that bond experts say is less harmful to the municipal market than President George W. Bush's original proposal. Municipal market participants feared that plan would create competition and increase rates because corporations could not include tax-exempt bonds in their excludable dividend account.


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