Sentence examples for eliminates deductions from inspiring English sources
The package raises the tax on cigarettes and capital gains, eliminates deductions for charitable contributions, and freezes the income tax at 5.3percentt.
That is because it reduces or eliminates deductions taxpayers take for themselves, for their children and for state income and local property taxes, as well as some medical bills.
The House speaker, John A. Boehner of Ohio, striking a conciliatory tone a day after the Republican Party's electoral drubbing, said on Wednesday that he was ready to accept a budget deal that raises federal revenue as long as it is linked to an overhaul of entitlements and a reform of the tax code that closes loopholes, curtails or eliminates deductions and lowers income tax rates.
While the legislation eliminates deductions and the tricky "alternative minimum tax," which prevents rich people from completely avoiding tax liability, the plan would also create a stunningly complicated system for taxing sole proprietors, partnerships and S-corporations.
He has proposed making pre-Kindergarten education universal in the state, as well as providing two free years of community college, paid for by a tax reform proposal that eliminates deductions for the wealthy.
Neither report had much impact, because eliminating deductions and exclusions is politically treacherous.
Almost all revenue-raising proposals hinge on eliminating deductions, rather than raising marginal rates.
We will do this primarily by broadening the tax base, eliminating deductions for mortgage interest and state and local taxes.
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.
Ms. Ross noted that to help close this year's gap the budget would temporarily eliminate deductions businesses can claim on losses.
Congress is working on an overhaul of the tax code that seeks to eliminate deductions and credits, including these tried-and-true programs.
