Contributions by various authors dealing with the following topics: Federal tax reform: the major proposals; The nation's public infrastructure: the challenges and some early responses; Fiscal policy and income distribution; Mergers and acquisitions: imputing the premium on common stock to cost-based regulated utilities and railroads; A national sales tax?; Issues in the tax treatment of housing; State tax reform; The state of city finances; Earmarking revisited; The taxation of capital.