White House Hasn't Agreed On Tax Breaks for Investors
WASHINGTON -- White House officials said they aren't yet close to agreement on a package of investor tax breaks, more than a month after President Bush embraced the idea at his economic forum in Waco, Texas.</br></br>That suggests the administration isn't likely to introduce its own proposal this year. Congressional time pressure and political concerns among some vulnerable Republican candidates are contributing to the delay.</br></br>White House budget director Mitchell Daniels Jr. said this week that none of the various packages put together by advisers have met the administration's requirements of helping the economy without hurting the budget, which is now back in deficit. "Maybe the greater reality is simply the shortness of time, and the crowded calendar," he said.</br></br>But while equities markets sag, White House officials, including Mr. Daniels, won't say they have scratched the item off the administration's agenda. On Capitol Hill, die-hard GOP tax cutters including Rep. Tom DeLay of Texas again pushed the idea this week in party meetings.</br></br>The back-and-forth over Wall Street tax breaks has prompted renewed criticism of Mr. Bush's economic team among some Republicans. At the Waco conference in August, Mr. Bush enthusiastically touted two big tax breaks: an increase in the amount investors can deduct for stock-market losses, and a reduction in the so-called double-taxation of corporate dividends.