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Maintaining Current Value of Itemized Deductions for High-Income Taxpayers Could Help Pay for Health Care Reform
Center on Budget and Policy Priorities Link to more items from this source
[Opinion]
July 17, 2009

Excerpt: If Congress rejects the President's proposal to help pay for health care reform by limiting the value of itemized deductions for high-income filers, it should at least prevent those subsidies from expanding in 2011, as they would under current law. Simply keeping the value of itemized deductions for filers in the top two brackets at their current levels of 33 and 35 percent, rather than allowing it to expand when those tax rates rise to 36 and 39.6 percent respectively, would raise $68 billion over ten years, according to the Urban-Brookings Tax Policy Center.[1] It could help to finance health care reform, while addressing the criticisms that have been leveled against the Administration proposal -- and maintaining current incentives to donate to charity or buy a home.

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