“In an effort to educate our constituency, we are making you aware of an issue that is under consideration in Washington, DC. Under a new Obama administration proposal, the value of itemized deductions forfor higher wage-earners will go down. The purpose of this reduction is purportedly to pay for new healthcare initiatives, according to administration officials.
Under the plan, there would be a cap on itemized deductions for mortgage interest and charitable donations for families making $250,000 and above. The administration hopes to generate approximately $300 billion in new taxes over ten years, and the plan would …” Read more here
Source : Faith News