Remove post


By NRPA|Posted on April 4, 2011

Tags:

On Monday, September 19, 2011, President of the United States (POTUS) Barack Obama unveiled his proposal on how to pay for the American Jobs Act (AJA, no bill number yet) as part of his overall plan for deficient reduction. The “Plan for Economic Growth and Deficit Reduction” was given to the Joint Select Committee on Deficit Reduction, which is charged with finding at least $1.2 trillion in budgetary savings. This plan includes a series of changes to the tax code and entitlement programs that would produce an estimated $3 trillion in savings over the next decade, in order to pay for the Jobs Act and to scale back the deficit. One of the cornerstones of this plan is a proposal to limit the value of itemized deductions and exclusions to 28 percent for households with a gross income over $250,000, or individuals with a gross income of $200,000 

On Monday, September 19, 2011, President of the United States (POTUS) Barack Obama unveiled his proposal on how to pay for the American Jobs Act (AJA, no bill number yet) as part of his overall plan for deficient reduction. The “Plan for Economic Growth and Deficit Reduction” was given to the Joint Select Committee on Deficit Reduction, which is charged with finding at least $1.2 trillion in budgetary savings. This plan includes a series of changes to the tax code and entitlement programs that would produce an estimated $3 trillion in savings over the next decade, in order to pay for the Jobs Act and to scale back the deficit. One of the cornerstones of this plan is a proposal to limit the value of itemized deductions and exclusions to 28 percent for households with a gross income over $250,000, or individuals with a gross income of $200,000