In light of the increased expenditures forced on by the devastation of Hurricane Katrina, Congress is at least temporarily shelving is tax cut proposals, the Wall Street Journal reports. I commented on this last week and am glad to see Congress is not going to push for a while. Some proposals have merit and deserve attention such as the Alternative Minimum Tax and Tuition deduction.
I hope that when Congress takes up the issue again, it will not turn into another give-away but truly sensible legislation. It doesn't hurt to hope.
Al
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