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Rep. D. French Slaughter, (R7th), voted in favor of the motion which was passed in the House of Representatives to instruct the House conferees participating in the tax bill negotiations with the Senate to insist on four key points.
This motion instructs the House tax conferees to agree to tax rates no higher than in the Senate bill — that is, personal tax rates of 15 and 27 percent, and a top corporate rate of 33 percent. The House conferees will also insist on a full $2,000 exemption for both itemizers and non-itemizers for all but the wealthiest taxpayers. In addition, the House conferees have been instructed to allow no net increases in the Federal tax code.
Rep. Slaughter said that the preservation of present law with respect to Individual Retirement Accounts, or IRAs, is also important.
The above points have merit on the whole. The question on the final vote on the tax bill is whether or not it is an improvement over the pre
95.9%