Sentence examples for back on deductions from inspiring English sources

Many people have proposed raising revenue by cutting back on deductions and loopholes — so-called tax expenditures.

Governor Romney has a modest tax plan that would cut individual tax rates 20% in return for cutting back on certain deductions.

Now Republican negotiators are looking at cutting back on many of the deductions families and businesses use to limit their taxes to offset the lower rates, but Republicans and the White House are under pressure to back away from some of the demands.

Even Camp's tax reform proposal recognizes these tax expenditure, which cost about $175 billion annually, are not cost effective because it contains a significant, albeit hidden, cut back on the mortgage interest deduction for all but 5percentt of individual taxpayers.

Against leverage in home buying, by repealing the mortgage interest deduction and cutting back on the many government subsidies in the mortgage market (via Freddie Mac, Fannie Mae, and so on).

The math for the limit on deductions is different.

Republicans and some Democrats saw a possible breakthrough last week when Republicans on the committee, long hostile to new taxes, offered the proposal to raise $300 billion in new tax revenue, mainly by scaling back tax deductions for higher-income households.

In fact they lose money on deductions.

Carney said Tuesday that Obama would reprise his plan from earlier this year to raise $1.6 trillion in taxes by raising tax rates, imposing a new special tax on millionaires and scaling back deductions and loopholes.

But a decision to roll back key itemized deductions has already alienated the home builders as well as the National Association of Realtors, both major lobbying forces on Capitol Hill.

The report focused on how the United States is oversubsidizing debt compared with other nations, establishing a case for cutting back the debt deduction to put it on parity with those of other countries.