Tax break bandwagon ready to roll: industry has wish list for GOP on Capitol Hill. (Special Report).

Investment News, December, 2002 by Hansard, Sara

If the new Republican Congress' agenda is going to be, first and foremost, about tax reform, then the financial services industry wants to be on it. It will be pushing next year to make higher retirement contributions permanent and to accelerate the schedule for phasing in higher tax-free contributions.

Beyond that, the mutual fund and insurance industries are looking for their own specific tax breaks. Insurers want capital gains tax treatment for annuities, while fund companies want to be able to delay capital gains taxes on funds until investors redeem shares. The Financial Planning Association is calling for the passage of a plan that would give employers immunity from liability on defined-contribution plans, but only if they use...

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