Sentence examples for deduction proposal from inspiring English sources

Although the deduction proposal would be a boon to nonprofit organizations, his proposal to phase out the estate tax would most likely mean a significant loss of income for the nonprofits, since many affluent people now reduce the size of their estates through charitable giving.

Since people who earn millions of dollars a year tend to arrange their finances so that they are eligible for a lot of deductions, this proposal would have a substantial impact on their tax liabilities.

The banking and real estate industries are hardly expected to support a plan to rethink the home mortgage interest deduction, a core proposal in Simpson-Bowles.

And President Obama again proposed cuts to the charitable deduction in his 2013 budget proposal.

Mr. Giuliani said that a central part of the proposal, eliminating deductions, would hurt taxpayers in urban areas and reduce tax revenues for populous cities and states.

This time we are in a post-fiscal cliff environment, complete with higher taxes, which will mean that caps on deductions and other proposals will harm charitable giving even more than they otherwise would have.

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.

Under that proposal, a tax deduction would not be allowed to reduce a person's taxable income by more than 28percentt of the deduction amount.

The chief hurdle, the White House and Democrats say, is the president's favorite proposal, the charitable deduction for couples who do not itemize.

The easiest way to get those revenues would be a plan resembling the administration's proposal to limit deductions to the 28 percent rate and then exclude charitable deductions from that cap.

A third option is similar to Mr. Obama's own proposal for limiting deductions, but it would add additional restrictions for higher levels of income.