Tax reconciliation conference report due next month.(Tax Watch)

Investment News, February, 2006

Byline: Mark E. Battersby GOP leaders, including Sen. Charles R. Grassley, R-Iowa, chairman of the Senate Finance Committee, remain confident that conferees will produce a final tax reconciliation conference report by the end of next month. Although the Senate named its conferees Feb. 14, the weeklong Presidents Day recess could delay the start of negotiations until this week.

The bill would cut taxes by $70 billion over five years by extending tax breaks scheduled to expire before the end of the decade. The House version of the reconciliation bill features a two-year extension of the reduced tax rates for capital gains and dividends. They are scheduled to disappear at the end of 2008. The Senate version omits that extension, though Senate GOP leaders...

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