Sentence examples for a capped deduction from inspiring English sources

A reduced deduction for mortgage interest and a capped deduction for state and local taxes could have a big impact on your taxable income, especially when accompanied by the disallowance of deductions such as unreimbursed employee expenses, tax preparation fees, personal exemptions, dependency exemptions, and theft and personal casualty losses.

In 1993, a change to the U.S. tax code capped deductions for executive pay at $1 million.

She threw out a number — $1.7 trillion from capping deductions — as evidence that the G.O.P. claim that it can raise lots of revenue from high-income Americans without raising tax rates is true.

Unlike proposals to cap deductions at a fixed dollar amount (or a particular percentage of income), the provision retains a strong incentive for high-income households to engage in charitable giving and other useful activities.

That would give both sides the latitude to devise a restructured tax code that eliminates or limits tax deductions and credits for the rich — or that follows Mitt Romney's proposal to cap deductions at a set limit for rich households, though many analysts say that approach alone cannot raise the revenue Democrats want.

The campaign noted that Mr. Romney has only suggested capping deductions as a possible approach to offsetting the cuts, hinted that other options would be explored to raise revenues and said that working against a target of $5 trillion over 10 years was wrong because some aspects of their tax plan, including lowering the corporate tax rate, would be handled separately.

Capping deductions at $17,000 – a level the Romney campaign floated a few weeks ago – would raise $1.7 trillion, a shortfall of $3.3 trillion.

Capping deductions at $50,000 would snare a lot of folks making under $250,000 per year, I would be willing to bet.

But an analysis released Wednesday by the Tax Policy Center found that capping deductions would not yield enough revenue to make up the roughly $5 trillion that Mr. Romney's various tax proposals are projected to cost over a decade.

One former Administration official thinks he would: "Obama's budget likes the idea of capping deductions at 28 percent," and this would be an even lower cap.

The suggestion -- to cap deductions at $300,00 instead of $1 million -- seems like a political nonstarter.