All Rights Reserved Highlights of the tentative tax and budget-balancing agreements between the Clinton administration and congressional leaders.
All figures are over a five-year period unless otherwise indicated.
Employers would be notified to adjust withholding starting next year so parents wouldn't have to wait until filing a return and receiving a refund to get some benefit from the new break. Will be a mix of the tax credits the president proposed, plus incentives for education savings the GOP proposed. The current exemption for employer-paid undergraduate tuition would be extended. The Senate had proposed a 20-cent increase. Inflation-related portion of capital gains would be taxed, despite GOP effort to exempt it.