White House Rethinks Tax Hikes
Obama Open to Revising Plan to Cap Breaks on Mortgage Interest and Donations
"We recognize there are other ways to do this," Mr. Geithner responded during a hearing Wednesday. "We are willing to listen to all ideas that meet these broad principles."
Some lawmakers questioned whether it was smart to reduce mortgage-interest deductions in the midst of a housing-market crisis.
"Isn't there a concern that limiting the deduction would further depress home prices?" Sen. Pat Roberts (R., Kan.) asked during the hearing.
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