The new tax reform debate
Article Abstract:
Many legislators agree that the income tax system should be revised to create a more consistent and fair system of taxation. Some reform proposals include implementing a flat tax, a value-added tax or a consumption tax. However, proponents of reform will have to consider the effect of a new tax system on existing investments, contracts, financial relations and wage systems. Congress has formed the National Commission on Economic Growth and Tax Reform to address these issues.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1995
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Tax reform gains attention
Article Abstract:
The growing movement to reform the current tax code is compelling benefits professionals to consider implications of tax reform on employee benefits. They need to address the possible impact of a new tax system on such issues as the items to be included in the tax base, the definition of income under the new tax regime, the taxation of individual savings and the regulation of employer-sponsored plans. Tax reform is also expect to change plan participation.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1996
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Increased access to pension assets surprise entry in budget reconciliation debate
Article Abstract:
The 1995 budget reconciliation process has expectedly included proposals affecting employee benefits. A surprise entry is the suggested expansion of Internal Revenue Code section 420, which authorizes transfers of 'excess pension assets' for retiree medical benefits. This and other controversial provisions included in the proposed budget may force Pres. Bill Clinton to veto at least the first budget bill forwarded by Congress.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1996
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