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Mayor's Briefing Statement on the District's Response to the Federal Tax Reform Act

 
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4 THE DISTRICT OF COLUMBIA WASHINGTON, D.C. 20004 MARION BARRY. JR. MAYOR'S BRIEFING STATEMENT ON THE DISTRICT'S RESPONSE TO THE FEDERAL TAX REFORM ACT WEDNESDAY, JANUARY 7, 1987 AT 2:30 P.M. I AM PLEASED TO BE ABLE TO ANNOUNCE A DPAFT TAX PLAN WHICH WILL RESPOND TO THE RECENT FEDERAL TAX REFORM LEGISLATION. I ERIEFED THE COUNCIL ON MY PROPOSAL EARLIER TODAY, AND OVER THE NEXT TWO WEEKS I WILL DISCUSS IT IN GREATER DETAIL WITH REPRESENTATIVES OF THE COUNCIL, THE BUSINESS AND LABOR COMMUNITIES AND CITIZEN GROUPS, WITH A VIEW TOWARDS FINALIZING MY PROPOSAL FOR SUBMISSION TO THE COUNCIL BY JANUARY 20TH. AS YOU ARE AWARE, ON OCTOBER 22, 1986, PRESIDENT REAGAN SIGNED THE TAX REFORM ACT OF 1986 INTO LAW. THIS WAS THE MOST FAR-REACHING CHANGE IN FEDERAL TAX LAWS SINCE 1954. THE NEW LAW ELIMINATED OR REDUCED CERTAIN TAXPAYER DEDUCTIONS, THEREBY, INCREASING THE TAXABLE INCOME OF MANY FEDERAL TAXPAYERS. THE TAX REFORM ACT ALSO REDUCED INDIVIDUAL INCOME TAX RATES AND INCREASED PERSONAL
Title
Mayor's Briefing Statement on the District's Response to the Federal Tax Reform Act
Date
July 01 1987
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