Tax panel would drop most incentives

Our main site has a report posted just now on recommendations of the President's Advisory Panel on Tax Reform as discussed at an open meeting yesterday. The recommendations would eliminate the low-income housing tax credit as part of a general reduction in the number of tax incentives -- but everyone we've talked to notes that the process is at a very early stage. The panel's work is described in detail at its own www.taxreformpanel.gov site, where the resources include copies of public comments received. The panel's written recommendations are scheduled for completion Nov. 1, at which time they are to be posted on its Web site.