Restrictions on Itemized Tax Deductions: Policy Options and Analysis

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Restrictions on Itemized Tax Deductions: Policy Options and Analysis

Jane G. Gravelle,Sean Lowry-2013-05-21-University of North Texas Digital Library (University of North Texas)

TL;DRAbstract

This report analyzes various proposals to restrict itemized deductions--both across-the-board and individually tailored--using standard economic criteria of economic efficiency, distribution, simplicity, and estimated revenue effects. In particular, this report estimates each proposal's potential to contribute to revenue-neutral reductions in income tax rates and the consequences for economic behavior.

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This report analyzes various proposals to restrict itemized deductions--both across-the-board and individually tailored--using standard economic criteria of economic efficiency, distribution, simplicity, and estimated revenue effects. In particular, this report estimates each proposal's potential to contribute to revenue-neutral reductions in income tax rates and the consequences for economic behavior.

Keywords

Tax deductionRevenueEconomicsPublic economicsEconomic analysisSimplicityGross incomeTax revenue

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