Could this be the year that Congress actually moves to simplify the tax code? Treasury Secretary Paul O'Neill seems to think so.

This week, O'Neill said the Bush administration is hard at work on the issue and is expected to plaster the halls of Congress with a series of reports highlighting the onerous complexities of the nation's tax laws - and possible solutions.

While many interest groups - including the American Institute of CPAs - have for years been calling for creation of a simpler tax code, special interest groups voraciously seek them out and Congress doles them out in lieu of direct government spending programs.

- Tracey Miller-Segarra

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