The mutual fund industrys trade group today endorsed President Bushs economic plan, which would totally eliminate federal taxes on stock dividends.
In a statement,
Fink said that the ICI will also work with the president and Congress to increase contribution limits for IRAs and employer-sponsored retirement plans, expand "catch-up" provisions in the tax code that allow for those 50 and older to contribute more funds to their retirement, and make permanent tax-free treatment of qualified withdrawals from 529 college savings plans.
The goal is to benefit middle-class workers, many of whom own mutual fund shares, but earn "moderate annual incomes," Fink said.
