Nation: TAXES: THE R AND R BILL

FOR more than a decade, tax reform has been the subject of more talk than action on Capitol Hill. Last week this tradition was reversed when the House took a long-overdue step toward granting the country's front-line taxpayers some R & R from the financial wars. By a lopsided vote of 394 to 30, the House approved a bill that would ultimately give citizens $9.2 billion worth of relief, by lowering certain tax payments, and the Treasury $6.9 billion worth of reform, by plugging various loopholes.

The 368-page bill is the first comprehensive revision...

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