The Nation - News from April 11, 1988

Congressional tax writers are preparing to give billions of dollars more in tax breaks to the wealthy, just two years after writing more than $10 billion in breaks into the new tax law, according to a published report. The Philadelphia Inquirer said more than 650 exemptions, technically designed to provide a transition period, in some cases excused the wealthy or corporations from paying taxes ordered by courts or the Internal Revenue Service. Some, the paper said, gave special treatment that was not available under old or new tax laws. Beneficiaries, the paper said, include “ . . . companies that have slashed the pension or health-care benefits of their retirees.” The latest round of breaks, the paper said, could come in a bill designed to make technical corrections in the act, such as misplaced commas or typographical errors.