February 26, 1998 | Read Time: 1 minute
Fifteen members of Congress have joined together to oppose annuity and estate-tax changes proposed by President Clinton in his 1998 budget plan.
Led by Rep. Jon Christensen, a Nebraska Republican, they wrote a letter to Mr. Clinton warning that they were “greatly disturbed” by some of the Administration’s proposals. Among the objections: a call by the President to eliminate a tax strategy known as the “Crummey” provision, which has been used by people to pass money to their heirs.
Many charity officials worry that the elimination of such tax breaks might indirectly hurt giving. They argue that people may leave less to charity if tax changes make it harder for them to also provide for their children. Administration officials argue that the changes are needed to curb abuses.
