In Brief: Sec. 936 tax credits
Executive Summary
Sec. 936 tax credits: House Resources Committee Chairman Young (R-Alaska) is considering a five to 10 year phase-out of Sec. 936 tax credits in U.S. territories as part of a larger initiative to extend the U.S. federal tax system to its territories. GAO is analyzing the impact of implementing the federal tax system on the territories at Young's request but will not finish collecting the necessary data until mid- to late-July. Elimination or phase-out of Sec. 936 tax credits is not included in either the House or Senate budget resolutions or in the FY 1996 budget...