H.R. 1308, Tax Relief, Simplification, and Equity Act of 2003 (Introduced in House) is just another example of how far removed the tax code is from reality, and how difficult it can be.
SEC. 503. REPEAL OF EXCISE TAX ON FISHING TACKLE BOXES.
The is a problem when the US House takes up the issue of taxing tackle boxes.
However, they did slip this nugget in:
SEC. 102. SUSPENSION OF TAX-EXEMPT STATUS OF TERRORIST ORGANIZATIONS.
Too bad that this has been kicked around in the House since March 2003, with no substantive progress.
