Letter from Joint Committee on Taxation

Letter from Joint Committee on Taxation

A Joint Committee on Taxation memorandum to the Senate Finance Committee analyzes the revenue effects and tradeoffs from, collectively, (1) repeal of the alternative minimum tax, (2) repeal of the overall limitation on itemized deductions for certain taxpayers, (3) repealing all itemized deductions; (4) taxing capital gains and dividends as ordinary income, and (5) repealing the interest exclusion on State and local bonds issued after December 31, 2012.

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