Extension of Saving and Investment Incentives

Testimony

Extension of Saving and Investment Incentives

Statement before the Subcommittee on Taxation and IRS Oversight of the Committee on Finance, United States Senate
June 30, 2005

Abstract

Congress is considering extending certain tax benefits for saving and investment that are slated to expire over the next several years, including the special rates on capital gains and dividends, the saver's credit, and the deduction for college tuition. This testimony addresses these provisions' effects on income distribution and saving and highlights the differences between the current special rates for dividends and capital gains and "corporate integration" proposals to end double taxation of corporate equity income and tax all capital income once.

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