Promises Kept: Part 2 -- Principal Tax Increases

Part 2
Principal Tax Increases
A Tax News & Views Special Report:
Promises Kept: The 1997 Tax Law

Guide to
Promises Kept

Tax Cuts for Individuals

Principal Tax Increases

Other Key Provisions

Table of Contents

art II of Promises Kept outlines the principal tax increases in the 1997 tax legislation. Although President Clinton and Congress both promised tax cuts as the centerpiece of the Act, their simultaneous goal of a balanced budget and a political need to balance spending cuts affecting individuals with "loophole"-closing tax provisions led to the adoption of significant tax increases as part of the Act.

Chapter 5: Principal Tax Increases

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Tax News & Views is produced by the Financial Counseling Specialists and the Legislative & Regulatory Services Group at Deloitte & Touche LLP.