A Client Has Recently Learned of a Proposed Tax Bill

question 50

Essay

A client has recently learned of a proposed tax bill that would increase the tax rates on investment gains by 5 percent.The President does not support this increase.Please describe for your client the process by which new tax legislation is created and how the President's disapproval may influence the enactment of the bill.

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Definitions:

Symbolize

To represent something abstract or intangible using a specific sign, mark, object, or action that conveys a particular idea or quality.

Powerful

Possessing great power, influence, or effect; capable of exerting force, authority, or having a strong impact on outcomes.

Fuel Efficient

Referring to technology or methods that use fuel in a way that maximizes energy output while minimizing waste, often associated with vehicles.

Car

A wheeled motor vehicle used for transportation.