Possible Tax Changes On The Horizon

President Bush has asked for a simpler tax process and set up a panel to make recommendations. While the report is not final, the recommendations that the panel is considering have been reported and the panel’s final report will be delivered to Treasury Secretary John Snow in about two weeks. While it isn’t set in stone, it will carry considerable weight in the Bush administration. It will also be heavily lobbied against by groups whose tax breaks are being threatened. Here is a summary of some of the tax proposals likely to make it into the final draft:

The home mortgage tax deduction will likely be lowered.

The amount of tax-free health insurance contributions your employer m


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One Response to Possible Tax Changes On The Horizon

  1. swarovski says:

    Its all just a con of reducing tax for one thing and adding it to another so that at the end of the day they can raise the same or more tax.

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