51. The budget agreement, if approved, would protect against a Senate filibuster when the actual tax legislation is under consideration. 52. The budget process itself imposes another brain-twisting problem on aviation tax legislation. 53. The Constitution dictates that all tax legislation must originate in the House of Representatives. 54. The company, concerned that the federal government would take away the deduction with new tax legislation, decided to sell Lyons, he said. 55. The European Union has asked the WTO to examine the new export tax legislation, which is not expected to be enacted before early next summer. 56. The European Union has asked the WTO to examine the new export tax legislation. 57. The focus now shifts to the Senate, where tax legislation is proceeding more slowly and where the Bush plan does not command a majority. 58. The details of the tax legislation must still be worked out in the Senate-House conference committee on the budget legislation. 59. The drop in the stock market and signs of a faltering economy have clearly changed the political calculus on tax legislation. 60. The great unknown this year is whether any significant tax legislation will emerge from Washington, and if it does, how to play it now. |