Don’t Pencil In Accord On Tax Cuts
Despite gushy talk of bipartisanship, it won’t be easy for congressional Republicans and President Clinton to agree on how to cut taxes and how to pay for it.
Both sides support a middle-class tax cut, more generous Individual Retirement Accounts and a per-child credit. But they disagree on how to pay for new tax reductions.
Rep. Bill Archer, R-Texas, said he’s not averse to scrapping outdated tax breaks, but Congress already reduced or eliminated the most lucrative breaks to finance health insurance reform and small-business tax relief.