Article: Cities and states, real estate industry concerned about Bush plan.(The Dallas Morning News)

Byline: Bill Deener

President Bush's plan to eliminate federal income taxes on corporate dividends was generally well received in most quarters this week _ but certainly not everyone was cheering.

One consequence of the president's $674 billion economic stimulus package could be that cities and states have to pay more to finance their debt. Also, some in the real estate industry have concerns about how the elimination of the dividend tax might affect real estate investment trusts, or REITs.

In both cases, experts fear that the dividend tax cut will drive people away from these other investments.

Some 50,000 state and local governments ...

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