U.S. Tax Overhaul Faces Political Obstacles

U.S. Tax Overhaul Faces Political Obstacles - IMF

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00008096-us-tax-overhaul-faces-political-obstacles/

By Mark Felsenthal, Reuters

U.S. tax overhaul ideas face steep political and practical obstacles despite widespread dissatisfaction with the existing system, an International Monetary Fund paper published on Thursday said.

An advisory panel President George W. Bush named in January to study ways of revamping the tax system is due to propose avenues to make the current code simpler and fairer by Sept. 30.

The panel has not expressed any preferences, other than favoring elimination of the alternative minimum tax, a provision aimed at ensuring high-income taxpayers claiming multiple deductions pay some tax but that is now ensnaring more and more middle-tier earners.

For this complete story, please visit U.S. Tax Overhaul Faces Political Obstacles – IMF.

U.S. Tax Overhaul Faces Political Obstacles - IMF

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