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Hungary Set to Maintain Ceiling on Home Mortgage Interest Rate

Economy Minister Márton Nagy told a press conference on Monday that he will make a proposal to the government to keep the interest rate cap on home mortgage loa

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Tax Breaks: Income And Deductions Don't Always Fit Nicely On Your Tax Return

Our latest edition of Tax Breaks. Treasury stares down another challenge, home mortgage interest and real estate tax deductions, the latest on ERC claims, and more.

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The New Flat Tax: Easy as One, Two, Three

The New Flat Tax is simple, revenue-neutral, and will allow America to achieve its full economic potential.

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Detailed text transcripts for TV channel - FOXNEWS - 20171226:22:09:00

stock market, wages, unemployment is down. that's data. >> if you look at more data in the economic equation, something that's important is the measure of home buyers. the home mortgage interest, they did a survey of this. interesting home mortgages at an 18 year high. it's a spike that's happened since the beginning of the year. there is something else. you used the term trickle-down. it was a bad phrase for the republicans to use. it is downward pressure from the economy, the economic activity levels crated by corporations, and individual investors. it is the upward pressure when you lift wages -- when you live tax burden, regulatory burden on the lower income scale. when you have over 80% of the people according to the irs data paying and they make under $50,000 a year, pay in the obamacare tax penalty and you left that from them, that matters to them. suddenly $1,000 for a person

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Detailed text transcripts for TV channel - MSNBC - 20171116:19:49:00

president trump visited capitol hill. he encouraged republicans to pass the $1.5 trillion legislation. it would lower corporate and individual tax rates and it would repeal the alternative minimum tax and eventually repeal the estate tax and would eliminate or reduce certain credits and deductions including student loan interest, home mortgage interest, medical expenses, and teacher expenses, making those things less affordable and at the top of the hour we're expecting a white house briefing. it will be the first since the president's return from his trip to asia. let's bring in our reporters to break it down, msnbc's garrett haake is on capitol hill and let's welcome nbc's jeff bennett at the white house. new on our team. jeff, good to see you. >> you as well. >> garrett, this is a big win for house republicans. is anybody commenting, though, on how well the president will do in this tax bill? he stands to save a billion dollars, just about a billion

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Detailed text transcripts for TV channel - MSNBC - 20170905:09:37:00

frommeth bo the administration and congress are making progress and shaping the tax overhaul. so far the consensus includes capping the deduction for home mortgage interest, which is popular among the middle class, and doing away with the ability to deduct state and local tacks and essentially penalizing those in states with higher taxes. something also being discussed according to politico, taxing workers' 401k plans, something budget hawks will have a hard time supporting. >> meanwhile, tax reform is at the center of a new ad from a coalition of progressive groups targeting democratic congressman tim ryan. it comes after the ohio democrat made news on "morning joe" late last month when he broke with the party and endorsed the idea of cutting corporate taxes. >> i think we need to simplify the tax code. i think we need to lower the corporate tax rate. we can't just be the party of redistribution of wealth. we've got to be the party of creation of wealth.

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Detailed text transcripts for TV channel - FOXNEWS - 20170517:20:37:00

>> what about on the business side? what do you want to do there? >> there's -- as you know, there's a significant amount of offshore earnings that could be repatated back in. and there's others in the business space, some deductions that are popular with some constituencies that might be able to be scaled back. we're going to be looking at everything on the able to to start with. there's some deductions that are very important. home mortgage interest, charitable giving. beyond that, there's others that might find some room to help offset the costs. we're going to get additional growth. this is not a static economy. when you change policy, you change behavior out there. people start investing and taking realizations and more taxes. growth is a big part of how you get there in terms of revenue. >> you had an intriguing business plan.

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Detailed text transcripts for TV channel - KGO - 20170428:00:33:00

position from the white house right now that middle class americans should not worry. >> the position of the white house is that the goal of this thing -- of this president's tax plan, is to provide them and lower income people with more money in their pocket and a tax credit, yes. >> reporter: press secretary sean spicer conceding there's a long way to go before this blueprint becomes reality. >> we've got a lot of work to do with congress and i think it's moving in a very positive direction. >> reporter: the plan would reduce the number of personal income tax brackets from seven to just three, slash the corporate tax rate by more than half, and eliminate all deductions except for home mortgage interest and charitable contributions. that means deductions for state and local income taxes will no longer exist, a potential blow to many americans in high-income, high-tax states, including several east coast blue states and california. today even some republicans raising concern. >> do you feel like this could hit your district harder? >> oh, sure. i mean, obviously when you talk about losing a deduction like that, that is something -- we want to make sure if there is

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Detailed text transcripts for TV channel - MSNBC - 20170426:22:13:00

other groups, people who earn less. but, again, some of this depends on the details. and i think there are a lot of republicans inclined to vote for a tax cut. there are at least some republicans who worry about the deficit. and if you're going to offset any of this by closing loopholes, it gets instantly more complicated to pass the thing because an awful lot of people are going to say, i love the tax cut but i do not want to give up that particular tax benefit, especially, say, for something like homeownership, which is a pretty widely used tax break. >> except that i understand the home mortgage interest remains in it if you have a mortgage. bill, let me go to you. your thoughts on whether this is going to pass the house, because they've got the senate. republicans have the senate. i assume they're going to pass pretty easily there. what about the house? >> i think e.j. is right. i think we're headed towards sort of health care redux here. warfare among the republicans

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Detailed text transcripts for TV channel - MSNBC - 20170426:22:01:00

here's what it does. cuts the corporate tax rate, cuts taxes for individuals. in fact, according to trump, everyone who pays taxes, high income, low income, everybody gets a cut. the plan eliminates most deductions which i like since deductions are usually just loopholes, special deals for those who had lobbyists to get them for them. and i bet you don't have a lobbyist. trump's plan does keep deduction for home mortgage interest and charitable giving which is good sin tentive to give. trump says his plan will jump start the economy and jobs because people, that would be yu you, get to keep more of your money. democrats say it is a giveaway to corporate billion heirs. it might not even matter what democrats say. because if all republicans go for the trump tax plan, it will become law. republicans hold the majority in both the house and the senate. the key is the word "all" all republicans. and remember, not all republicans supported trump's obamacare repeal, and that is now, well, it's a mess and embarrassment for the white house. we'll have more on the obamacare repeal effort ahead.

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