P.M. BRIEFING : Panel Sent Tax Revision Proposals
A House Ways and Means subcommittee today approved extension of expiring tax benefits for employers who hire disadvantaged workers and for those who invest in low-income housing.
The revenue subcommittee also renewed a tax credit that encourages rehabilitation of old buildings and approved a major simplification of the corporate minimum tax.
The four measures now go to the full Ways and Means Committee. Rep. Charles B. Rangel (D-N.Y.), chairman of the subcommittee on select revenue measures, said the minimum-tax bill almost certainly will be modified by the parent panel.
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