WASHINGTON - A controversial tax reform proposal by Rep. Dick Armey, R-Tex., the new House majority leader, has stirred widespread public interest and a little flimflamming by the Treasury Department.

Last June, Mr. Armey introduced a far-reaching bill to phase in a flat tax rate of 17% for individuals and corporations. The bill seeks to slash taxes, simplify the tax code, reward savings, and cap federal spending programs - all at the same time.

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