Congress Set to Vote on $350B Tax-Cut Plan Before Weekend

Duff, Susanna
May 2003
Bond Buyer;5/23/2003, Vol. 344 Issue 31642, p5
Trade Publication
The U.S. House and Senate are prepared to vote before the week ending at May 24, 2003 on a compromise tax deduction package that would give states and localities fiscal relief, but would postpone a plan to reduce tax rates for dividends and capital gains to reduce the package's final cost. The latest plan would hold the total cost to 350 billion dollar by cutting the tax rate for dividends and capital gains for five years instead of six. Municipal market participants had feared that the plan would create a disincentive for institutional investors to purchase tax-exempt bonds and drive up borrowing costs because corporations could not include interest from tax-exempt bonds in a dividend account.


Related Articles

  • House Panel Passes Bill On State and Local Sales Tax Deduction. Jagoda, Naomi // Bondbuyer.com;2/13/2015, p34 

    The article reports on a bill, H.R. 622, that was approved by the U.S. House Ways and Means Committee to make the state and local sales tax deduction permanent. Cited are other bills approved by the committee including one that made technical changes to 529 college savings plans and another that...

  • Opinion: Tax cut extension not necessarily business as usual.  // Toledo Business Journal;Feb2011, Vol. 27 Issue 2, p14 

    In this article, the author discusses the issue on the extension of tax cuts, being debated in the U.S. Congress. She stresses that the tax cut extensions will allow taxpayers and businesses to enjoy reduce taxes and the ability to itemized tax deductions. Also discussed are the implications of...

  • Senate Panel to Vote on Tax Extenders Bill Tuesday. Jagoda, Naomi // Bondbuyer.com;7/17/2015, p18 

    The article informs about voting by US Senate Finance Committee on a bill that would extend expired tax provisions which expired at the end of 2014, several provisions relating to bonds. The bill would would extend empowerment zone designations, allow taxpayers in their 2015 and 2016 tax years...

  • The Big Bite.  // Time;Jan1951, Vol. 57 Issue 1, p60 

    The article reports on the approval of an excess profits tax bill by U.S. House and Senate conferees in December 1950. The aim of the bill is to produce 3.3 billion dollars in revenue. Among the key provisions of the bill are an increase in the regular corporation rate to 47% from 45% and a tax...

  • Tax cut bill raises fears in Congress. Pecquet, Julian // Hill;5/19/2010, Vol. 17 Issue 55, p13 

    The article reports on the U.S. House members' discussion concerning estimated high cost of the tax extenders bill.

  • Corporate Tax Cut Bonanza. Gluckman, Amy // Dollars & Sense;Nov/Dec2004, Issue 256, p9 

    Provides information on the American Jobs Creation Act, a tax bill which provides corporate tax cut to U.S. corporations passed by the U.S. Congress in October 2004. Actual sum of tax breaks given to corporations; Provisions of the bill designed to benefit specific corporations and industries;...

  • Fiscal fall foiled. BOYD, HERB // New York Amsterdam News;1/3/2013, Vol. 104 Issue 1, p4 

    The article informs that U.S. Congress Senate has approved a Senate bill that will allow taxes to increase for the nation's wealthiest wage earners.

  • House-Passed Tax Bill Has Pluses, Minuses. Ichniowski, Tom // ENR: Engineering News-Record;6/7/2010, Vol. 264 Issue 17, p9 

    The article reports on a 112-billion U.S. dollar tax package that was approved by the U.S. House of Representatives on May 28, 2010. The tax bill received mixed reactions from the design and construction industry as construction groups favor some of the provisions, including an extension for the...

  • Taxing Situations. Doherty, Brenda // BusinessWest;8/17/2009, Vol. 26 Issue 8, p24 

    The article offers an overview of laws related to taxation that have passed by the U.S. Congress during the second quarter of 2009. They include the American Recovery and Reinvestment Act, cash incentive law, and a law for the deduction of sales and excise taxes. It examines the significant...


Read the Article


Sign out of this library

Other Topics