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Bipartisan tax plan trims mortgage deduction
The Gang of Six proposes cutting popular tax breaks including mortgage interest health insurance charitable giving and retirement savings to lower rates while aiming to trim deficits by about 4 trillion over ten years. It would simplify brackets from six to three and raise revenue, with mixed reactions from both parties as Obama weighs a debt limit extension.
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Washington
Barack Obama
White House
Obama
Gang of Six Plan
House Budget Committee