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TAX REFORM ON BACK BURNER?
December 08, 2004
Tax Analysts reports that some D.C. insiders expect tax reform to take a back seat to Social Security legislation next year.
House Majority Whip Roy Blunt said that Congressional Republicans will concentrate on making the 2001 and 2003 tax cuts permanent.
Tax Analysts quotes two other highly-placed sources as saying that tax reform will not be a 2005 project. Acting Treasury Secretary for Tax Policy Greg Jenner said it is "way too early to speculate" on the makeup of the blue-ribbon panel that will draft administration tax proposals. If the panel won't even be named for months, it is unlikely to finish its work next year.
Bill Archer, a former Ways and Means Chairman, said that he expects reform recommendations in 2006. Mr. Archer predicts incremental changes to the existing system, rather than what he called a "wholesale fruit basket turnover."
We don't know about wholesale, but you can find a retail Fruit Basket Turnover here. It looks like this:
"Fruit Basket Turnover," by Linda Rupard.
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