[JURIST] The Bush administration is planning an overhaul of the tax code with an eye toward drastically cutting or even eliminating outright taxes on savings and investment, according to Thursday's Washington Post. The plans are unlikely to include a flat tax or a national sales tax which were raised as possibilities during the presidential campaign. A bipartisan panel will draft a fundamental tax reform proposal. The administration will likely push amendments which will shield interest, dividends and capitals gains from taxation and expand tax breaks for business investment. To pay for these changes, the administration is considering scrapping the business tax deduction for employer-provided health insurance and eliminating the deduction of state and local taxes on federal income tax returns. The Post has more.