Biology Lesson: Policy Proliferates Progeny
The massive-and-still-growing tax bill gestating in the House Ways and Means subcommittee on Select Revenue Measures -- now in at least its third trimester -- may include not only AMT, EITC and, appropriately, a child tax credit, is hatching yet another embryonic idea: a corporate tax cut.
According to yesterday's Wall Street Journal, Ways and Means chair Charles Rangel (D-NY) "is open to cutting corporate-tax rates if the lost revenue can be made up by eliminating existing provisions and loopholes used by businesses."