The Treasury Department today released its General Explanations of the Administration’s Fiscal Year (FY) 2008 Revenue Proposals (the "Blue Book"). From the press release:
The Administration’s FY 2008 Budget includes measures to permanently extend the President’s tax relief enacted in 2001 and 2003, the President’s proposal for a new standard deduction to make health insurance more affordable and a set of proposals to improve compliance with the U.S. tax system. The FY 2008 Budget also includes initiatives to:
- Improve Americans’ Competitiveness
- Provide Alternative Minimum Tax (AMT) Relief
- Simplify and Encourage Savings
- Strengthen Education
- Provide Incentives for Charitable Giving
- Extend Various Expiring Tax Provisions
