TAXES: Surprise Some Real Reform

Too weary to be surprised, a House-Senate conference committee late last week finished groping its way through all 250 disputed provisions of the Tax Reform Act of 1976 and found that it had produced more reform than almost anyone had expected. The bill, which is likely to be passed by both houses of Congress this week, falls far short of the wholesale rewrite of the tax code that ardent reformers, including Jimmy Carter, demand. It still leaves the code resembling a shapeless coat crazily patterned by holes and patches. But its provisions add up to the most significant changes...

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