“House Republicans, searching for an election-year message amid a muddled political and economic landscape, will introduce a 2013 budget Tuesday that cuts tax rates and provides for just two individual brackets of 10% and 25%.
The budget would end the Alternative Minimum Tax, which originally was aimed at the wealthy but ensnares a growing number of middle-class taxpayers each year. The plan would nearly eliminate U.S. taxes on American corporations’ earnings from overseas operations.
The proposal, to be offered by Rep. Paul Ryan (R., Wis.), who has become the Republicans’ leading figure on budget issues, has little chance of becoming law soon. It is likely to be welcomed by House and Senate Republicans, and rejected by the Democratic-controlled Senate.
But with Republicans struggling to agree on a presidential nominee and a campaign theme, party leaders hope the easy-to-understand tax-cut proposal will give Republican candidates a clear and popular message….”
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