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Major Tax Issues in the 109th Congress (CRS Report for Congress)

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Release Date Revised Dec. 14, 2006
Report Number RL32719
Report Type Report
Authors David L. Brumbaugh, Marc Labonte, and Nonna A. Noto, Government and Finance Division
Source Agency Congressional Research Service
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Summary:

Various tax issues have been considered by the 109th Congress. Among themost prominent have been the estate tax; the alternative minimum tax; tax provisionsrelated to Hurricane Katrina; tax shelters; tax-related aspects of pensions, health care,and charitable giving; and whether to extend the tax cuts enacted in 2001 that arescheduled to expire in 2010. In addition, the question of whether to adoptfundamental tax reform has been debated. Specific tax-related legislative activity has focused on budget reconciliation.The fiscal year (FY) 2006 budget resolution (H.Con.Res. 95), approved in April2005, called for net tax cuts totaling $105.7 billion over five years. Tax cuts totaling$70 billion were included in reconciliation instructions.