AudioDigest*

The 2007 mid-year outlook: Emerging federal tax legislation

With the reinstatement of "pay-as-you-go" budget rules, which require any new tax relief or entitlement spending to be fully offset by tax increases or spending cuts elsewhere, there is increased pressure on Congress to consider revenue-raising tax provisions. The need for revenue offsets to pay for new legislative issues is a major concern for the business community. Major tax relief priorities of the Democrat-controlled Congress include addressing the individual alternative minimum tax (AMT), providing energy tax incentives, and extending expiring tax provisions.

PwC Washington national tax services (WNTS) partners Lindy Paull and Don Longano, and PwC senior policy advisor and former House Ways and Means Committee Chairman Bill Archer mark the mid-point of the year 2007 by discussing the outlook for federal tax law changes in 2007 and the potential impact on the business community.

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