Tax Cut Plan Mired in Economic, Political Debate
Washington Post (09/05/02) Vol. 9, No. 8 p.A5; Weisman, Jonathan

A new Bush Administration tax cut proposal could be shelved as debate continues over whether the cuts would be beneficial to both the economy and the political aspirations of GOP members. The proposal would increase the limit of stock losses that could be deducted from income taxes, cut capital gains and dividend taxes, and increase contribution limits for individual retirement accounts and 401(k) plans. Treasury Department officials are concerned that the policy would increase budget deficits, while political leaders are concerned about the proposal's impact on congressional elections.

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