Number: RL32719
Title: Major Tax Issues in the 109th Congress
Authors: David L. Brumbaugh, Marc Labonte, and Nonna A. Noto, Government and Finance Division 
Abstract: Various tax issues have been considered by the 109th Congress. Among the most prominent have been the estate tax; the alternative minimum tax; tax provisions related 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 are scheduled to expire in 2010. In addition, the question of whether to adopt fundamental 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 April 2005, called for net tax cuts totaling $105.7 billion over five years. Tax cuts totaling $70 billion were included in reconciliation instructions.
Pages: 25
Date: December 14, 2006