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Debt relief |
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| 108 provides an income exclusion for debt forgiveness if taxpayers are insolvent or have debt discharged through bankruptcy proceedings. On debt forgiveness, Armitage defended comments by US vice president Dick Cheney, saying that Iraq's creditors had forgiven $80 bn in debt, an estimate bigger than any publicly announced figure. Senior US officials initially called for debt forgiveness in the light of Saddam's evil regime. |
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