Research Report Options to Limit the Benefit of Tax Expenditures for High-Income Households
Daniel Baneman, James R. Nunns, Jeffrey Rohaly, Eric Toder, Roberton C. Williams
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This analysis measures the revenue and distributional impacts of three proposals to limit tax expenditures for higher-income households: the Obama Administration's plan to cap the value of itemized deductions at 28 percent; an effective minimum tax (EMT) to ensure that tax liability is at least a certain percentage of a taxpayer's income; and a modified version of a recent proposal to limit the value of specific tax expenditures to two percent of adjusted gross income (AGI).
Research Areas Taxes and budgets
Tags Individual taxes Federal budget and economy
Policy Centers Urban-Brookings Tax Policy Center