Supreme court: State property tax exemption unconstitutional when nonresident organizations not included
✍ Scribed by Bruce R. Hopkins
- Publisher
- John Wiley and Sons
- Year
- 1997
- Weight
- 300 KB
- Volume
- 14
- Category
- Article
- ISSN
- 0742-3497
No coin nor oath required. For personal study only.
✦ Synopsis
Bruce R. Hopkins
BUDGET AGREEMENT REACHED
ollowing several days of uncertainty, F congressional leaders and the administration reached agreement on a five-year balanced budget package, beginning with fiscal year 1998. The budget deal includes as much as $135 billion in gross tax cuts ($85 billion net). The budget resolutions have passed both houses of Congress.
These tax decreases include relief for post-secondary education (maximum of $35 billion), a cut in the capital gains rate (announced to be effective May 71, estate tax relief, and expansion of the individual retirement account rules. This in turn will be spawning tax legislation. The House Ways and Means Committee was finishing its tax bill at press time and the Senate Finance Committee is to be done by June 27.