Grassley, Organizations React to Bush's Double taxation Elimination Proposal

Thursday, February 6, 2003 - 1:45AM

Senate Finance Committee Chairman Sen. Chuck Grassley (R-Iowa) is working on tax legislation that will incorporate much of President Bush’s economic growth proposal, but says he cannot guarantee that it will include a provision to eliminate double taxation on stock dividends, according to the Daily Tax Report. Meanwhile, the number of housing and community development organizations that have signed a joint letter expressing concern that President George W. Bush’s proposal to eliminate double taxation of corporate dividends could jeopardize the future of the low-income housing tax credit (LIHTC) and other investment programs has more than doubled to 49 groups, up from 20 last week. Click here for a copy of the letter and other relevant materials. If you want to make your voice heard, Novogradac & Company LLP has prepared a letter suitable for sending to your Congressperson. Click here for a copy of that letter.

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