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Senate Finance Committee backs tax deductible IRAs and first time homebuyer credit
A bipartisan Senate Finance Committee plan would restore tax deductible IRAs for all workers and include a $2500 credit for first time home purchases through year end. The measure also offers incentives to create jobs in inner cities and poverty areas, with over $30 billion in net tax cuts over five years but higher taxes for some groups. Negotiations aim to align with House passage while courting President Bush's support.
MENTIONED IN THIS ARTICLE
Washington
Senate Finance Committee
Bush
Senate
House
Congress
White House
Los Angeles
Lloyd Bentsen
Texas
Finance Committee
Bob Packwood
Oregon