New tax policy ideas from Romney camp

Right Turn talks to some of Mitt Romney's advisers, who elaborate on the candidate's recent suggestion for a uniform, capped $17,000 tax deduction. 

First, the plan could cap itemized deductions at $17,000 or $18,000 of income, allow the personal exemption and keep (or create) some special tax treatment for health-care expenses (e.g., a refundable credit, a health care account).

Second, the cap could be in the form of a percentage of income.

Third, as was the case in the 1986 tax reform effort, you could eliminate credits, exclusions and deductions for upper-income taxpayers.

Wonkblog's Suzy Khimm looked at the cap idea today and found that it would mostly hit the wealthy and urban homeowners.

Rachel Weiner covers cops and courts in Arlington and Alexandria.
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Rachel Weiner · October 3, 2012