Preview of the Obama Administration’s Tax Proposals

July 14, 2009Articles The Legal Intelligencer

Now that the Democrats have achieved a 60-vote filibuster-proof majority in the Senate, the Obama administration is likely to push forward with a variety of changes to the Internal Revenue Code. On May 11, the Department of Treasury released the president's budget proposals, commonly referred to as the "Greenbook," which contained a summary of these tax proposals. The administration's proposals are generally consistent with Obama's pledge to increase income taxes only for families earning in excess of $250,000 and to close "loopholes" that benefit only the wealthy. In addition, the proposals contain a series of initiatives intended to improve compliance by taxpayers at every level of income.

In the article "Preview of the Obama Administration's Tax Proposals," published in The Legal Intelligencer, Mark Silow highlights the most significant provisions of the administration's proposals in the area of income tax.

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