Monday, December 5, 2005
Interesting article this morning on bloomberg.com: Bush to Delay Major Push for Tax Overhaul, People Familiar Say:
President George W. Bush will delay a major push for revamping the tax code because administration officials concluded the changes are too tough to sell to the public and lawmakers, two people familiar with the matter said.
Bush instead will spend next year attempting to lay the political groundwork for fundamental changes in 2007 or 2008, the people said, and leave to Congress the task of tackling incremental tax code simplification in 2006, an election year. The administration is wary of seeing its push to overhaul the tax system fall prey to the same factors that derailed Bush's attempt to restructure the Social Security system this year to include private investment accounts: negative public reaction and a Congress focused on the Iraq war and rebuilding the U.S. Gulf Coast from two hurricanes.