The House of Representatives has already passed three tax cuts and had the details of a fourth nearly pinned down, cutting taxes by $94.5 billion over the next five years.

The trio of approved bills are targeted at reconstruction of the Gulf Coast ($7.1 billion), U.S. troops serving in Iraq ($153 million) and an estimated 17 million taxpayers who were on the verge of having to pay the alternative minimum tax ($31.2 billion). The Senate has already passed similar measures.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access