Pressured with a campaign of letters, phone calls, and e-mails from trade associations, nearly every member of the House Ways & Means Committee has urged the defeat of a tax proposed by President Bill Clinton. The proposal, which is identical to one defeated last year, seeks to tax nonprofit trade and professional associations on their investments, dividends, and rental income and would cost the groups more than $1.5 billion over five years.
March 22, 2000 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Pressured with a campaign of letters, phone calls, and e-mails from trade associations, nearly every member of the House Ways & Means Committee has urged the defeat of a tax proposed by President Bill Clinton in February.
The proposal, which is identical to one defeated last year, seeks to tax nonprofit trade and professional associations on their investments, dividends, and rental income. The tax would cost those groups more than $1.5 billion over five years.
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