Tax-Cutting Fever

With the $1.3 trillion tax cut signed into law (and the Federal Government already forced to borrow to pay for the tax-rebate checks just now going out), you would think Congress had finished writing checks for a while. Wrong. In the energy bill passed by the House last week lies a hidden plum: $34 billion in tax cuts over 10 years, mostly going to--yep--oil-and gas-exploration firms. The House-passed patients' bill of rights also contains some little-noticed tax breaks: $16 billion over 10 years for small businesses and folks who save for medical care. In all, about $80 billion in tax cuts...

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