In a wide-ranging interview with TimeMagazine, Mitt Romney declined to say which deductions he would eliminate from the tax code in order to make his plan to cut tax rates across the board revenue-neutral.
“I know our Democrat friends would love to have me specify one or two so they could amass the special interest to fight that effort,” Romney told managing editor Richard Stengel when asked to specify which deductions he would eliminate. He then launched into a general discussion about ways to limit deductions, saying the choice would be made “in consultation with Congress” — in other words, after the election.
He added that he would maintain the mortgage-interest deduction, health care and charitable contribution deductions, the first two of which are the most expensive. All three deductions are popular.
Romney has been specific about which deductions he would limit — in private. In April, he told donors that he would probably eliminate the second-home mortgage interest deduction and limit state and local property tax deductions for high-income earners, according to NBC News.
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