Howard Gleckman of the Tax Policy Center:

The best course may be for Congress to extend low- and middle-class provisions of the Bush tax cuts for a year or two, and use that time to design a serious tax reform.

Congress doesn't have time to do serious tax reform this year, and the economy is too weak to withstand a multi-hundred-billion dollar tax hike starting January 2011. But eventually, we need both serious tax reform and a hundred-billion dollar tax hike.

Read the full story at TaxVox.

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