Tax Cuts Pushed by GOP in House
Washington Times (10/09/02) p.D2; Asinof, Lynn

House Republicans are promoting two investor tax cuts, but while the bills will probably pass the House and have received a positive statement from the Treasury Department, the Senate is not likely to pass them, according to this article. Democrats say that the bills are only a campaign to appeal to voters' worries about unemployment, the stock market lows, and pension funds. One of the bills would slowly raise the mandatory withdrawal age for IRAs and 401(k) plans, to 75 by 2007, and would increase tax-advantaged contribution limits to $15,000 for 401(k)s and $5,000 for IRAs next year, faster than current law, the article says.


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