10/31/2005

Keep an Eye on K Street

Hello:

Well it appears that the industry advocates (please, let's not call them "lobbyists") on K Street in Washington D.C. will have a busy year end. Former Treasurer, John Snow, has indicated in interviews that he is ready to recommend to the President some tax reform proposals that range from a progressive tax on consumption (aka value added tax) to reducing the deductibility of home mortgage interest on larger mortgages to streamlining the marginal tax brackets and/or modification of the alternative minimum tax. We believe tax reform is worth watching closely.

Does your organization's written investment policy statement include guidelines to all three sources of performance: Asset Allocation, Asset Management and Rebalancing? If that concerns you, contact us for a IPS Tune-up!

Terri G. Millson, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager