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PRESIDENT’S FISCAL YEAR 2014 BUDGET CONTAINS HOST OF INDIVIDUAL AND BUSINESS TAX PROVISIONS

On April 10, President Obama released his Fiscal Year 2014 federal budget proposal, which included $1.8 trillion of additional deficit reduction over 10 years. It contains many of the provisions proposed in his 2013 budget, along with several new ones, such as the use of a chained consumer price index (CPI) and a $3 million limit on tax-preferred retirement accounts. Whether regarded as a vision of the President’s agenda or a roadmap to coming changes, the budget proposal can’t be ignored.

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President’s Fiscal Year 2014 Budget Contains Host of Individual and Business Tax Provisions

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