Obama Tax Plan Likely to Stir Up Long-Simmering Debate

A White House tax plan released over the weekend promises to rekindle a long-simmering debate over how to use the tax code to close income gaps between the wealthy and the middle class.

At a minimum, the plan represents President Barack Obama ’s opening bid to congressional Republicans in a potential negotiation over a comprehensive rewrite of the tax code, including the rules for individual taxpayers. Sharply negative reactions from GOP lawmakers suggested it is unlikely that many of Mr. Obama’s ideas would become law in the current GOP-run Congress.