Washington (May 2, 2003) -- Although a staunch proponent of eliminating the dividend and capital gains tax, Treasury Secretary John Snow, labeled a modified House plan to reduce dividend taxes a “big step in the right direction.”
A modified version of the tax-cut plan was proposed by William Thomas, R-Calif., chairman of the Ways and Means Committee, which would cut the tax on dividends and capital gains to roughly 15 percent for middle-to-upper income families and 5 percent for those in the low-income bracket.
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
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access