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Reports on the efforts of Republicans in the United States Congress to cut taxes because of the estimated $75 billion surplus for fiscal year 1998. Where the surplus is from; The lack of consensus on where to cut taxes; Obstacles to tax cuts; The impact on Social Security; The likelihood of another government shut down like there was in 1996.

Explains why the United States will not likely experience a major tax cut from the federal government in 1999. The federal budget surplus; Political threats to Republicans should they cut taxes for the wealthy; Divisions in the Republican Party over tax-cut plans; Benefits of marginal tax cuts; Views of Federal Reserve Board Chairman Allan Greenspan; Current economic condition of the US; Possible reduction in the marriage-tax penalty.

Focuses on the tax system and the modifications passed by the Republicans as part of the Contract with America. Tax experts' opinions; Author's comments.