Itching to Rebuild the Tax Law New York Times (11/24/02) Vol. 365, No. 8299 p.A1; Stevenson, Richard W.
As Treasury Secretary Paul H. O'Neill prepares to draft
a model proposal for overhauling the U.S. tax code, most
political and industry observers agree the task will be daunting.
For the last few months, Secretary O'Neill has fielded input from
tax experts from universities and research institutes on ways to
simplify the existing tax system. One key issue the plan will
concentrate on is whether the tax liability for wealthy taxpayers
should be more than for lower-income people. President Bush is
working to make permanent the 10-year, $1.35 trillion tax cut
enacted last year in Congress, and may propose new tax cuts to
boost the economy early next year.