Tax and Revenue Increases

  1. Increase Individual Income Tax Rates
  2. Raise Tax Rates on Capital Gains
  3. Use an Alternative Measure of Inflation to Index Some Parameters of the Tax Code
  4. Gradually Eliminate the Mortgage Interest Deduction
  5. Limit or Eliminate the Deduction for State and Local Taxes
  6. Curtail the Deduction for Charitable Giving
  7. Limit the Tax Benefit of Itemized Deductions to 15 Percent
  8. Include Employer-Paid Premiums for Income Replacement Insurance in Employees' Taxable Income
  9. Include Investment Income from Life Insurance and Annuities in Taxable Income
  10. Tax Carried Interest as Ordinary Income
  11. Tax Social Security and Railroad Retirement Benefits in the Same Way That Distributions from Defined-Benefit Pensions Are Taxed
  12. Reduce Limits on Contributions to Retirement Plans
  13. Replace the Tax Exclusion for Interest Income on State and Local Bonds with a Direct Subsidy for the Issuer
  14. Modify or Eliminate the Child Tax Credit
  15. Eliminate Certain Tax Preferences for Education Expenses
  16. Increase the Maximum Taxable Earnings for the Social Security Payroll Tax
  17. Expand Social Security Coverage to Include Newly Hired State and Local Government Employees
  18. Increase Corporate Income Tax Rates by 1 Percentage Point
  19. Set the Corporate Income Tax Rate at 35 Percent for All Corporations
  20. Repeal the "LIFO" and "Lower of Cost or Market" Inventory Accounting Methods
  21. End the Expensing of Exploration and Development Costs for Extractive Industries
  22. Extend the Period for Depreciating the Cost of Certain Investments
  23. Repeal the Deduction for Domestic Production Activities
  24. Eliminate the Source-Rules Exception for Exports
  25. Tax the Worldwide Income of U.S. Corporations As It Is Earned
  26. Exempt Active Foreign Dividends from U.S. Taxation and Change the Tax Treatment of Overhead Expenses
  27. Impose a 5 Percent Value-Added Tax
  28. Increase Excise Taxes on Motor Fuels by 25 Cents
  29. Increase All Taxes on Alcoholic Beverages to $16 per Proof Gallon
  30. Accelerate and Modify the Excise Tax on High-Cost Health Care Coverage
  31. Increase the Payroll Tax Rate for Medicare Hospital Insurance by 1 Percentage Point
  32. Repeal the Individual Health Insurance Mandate
  33. Impose a Fee on Large Financial Institutions
  34. Reinstate the Superfund Taxes
  35. Impose a Price on Emissions of Greenhouse Gases