White House Rethinks Tax Hikes
Obama Open to Revising Plan to Cap Breaks on Mortgage Interest and Donations
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John D. Mckinnon
and Martin Vaughan
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Still, Mr. Geithner repeatedly defended the proposal, saying it affects only about 1.2% of taxpayers. He added it would have only a modest negative impact on overall charitable giving. The Treasury secretary also noted that none of the administration's tax increases would go into effect until 2011 — presumably after an economic recovery is well under way.
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John D. Mckinnon
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