Reports from inside the White House are that President Bush's administration may wait until 2007 to begin pushing a proposal to overhaul the tax code.

A proposal was originally planned to be a key part of President Bush's second-term agenda, but Republican sources have said that any push would have problems gaining traction in a mid-term election cycle. The Treasury Department is currently reviewing the recommendations issued by the President's Advisory Panel for Tax Reform before submitting a plan the president.

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