Debt Supercommittee Taxes

November 17, 2011 - 4:15 AM
In this Nov. 15, 2011, photo, Sen. Patrick Toomey, R-Pa., rushes through the Capitol to a closed-door meeting with other Republican members of the Supercommittee, in Washington. A GOP plan to raise taxes by $290 billion over the next decade would limit deductions for mortgage interest, charitable donations and state and local taxes as part of a deficit-reduction deal. Some workers could also see their employer-provided health benefits taxed for the first time, though aides cautioned that the plan is still fluid. The plan by Toomey would raise revenue by limiting the tax breaks enjoyed by people who itemize their deductions, in exchange for lower overall tax rates for families at every income level. (AP Photo/J. Scott Applewhite)