Dartmouth is watching closely the major tax reform bill (in the House-Senate Conference Committee as of August) and will inform alumni of its effects on giving to the College if it becomes law. One effect is already clear. Since the major thrust of the legislation is a substantial cut in rates, the tax saving on a gift to Dartmouth in 1986, under the current high rates, would be significantly greater than under the lower rates that promise to prevail in future years.