Tax reconciliation agenda gets stymied once again.(Tax Watch)

Investment News, May, 2006

Byline: Mark E. Battersby Despite earlier predictions, House and Senate negotiators yet again have failed to reach agreement on tax reconciliation legislation. Reportedly, the hang-ups are due largely to difficulties in finding a sufficient amount of revenue offsets and in allowing time for the committee staff members to understand them.

Also under consideration is a bill that includes tax break extenders pushed out of the reconciliation bill due to its $70 billion overall cost limitation, according to reports. The main tax reconciliation is widely rumored to contain a proposed two-year extension of the lower tax rates on capital gains and dividends, while the second measure contains a package of business tax extenders. "If we can resolve the...

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