Tax Cuts Still Alive

The House is moving forward on half of the four-bill tax cut package that emerged from the Senate just before last week's crossover deadline.

The Associated Press outlines the deal. The key elements: the business franchise tax is cut, not repealed; the corporate net income tax remains the same; and changes are delayed until 2009 to give the Tax Department time to adjust.

I would note that House Finance Chairman Harry Keith White, D-Mingo, had indicated to AP earlier in the week that he had not written off the Senate bills.