Proposed Income Tax Changes

From the New York Times: "President Bush's advisory commission on taxes unanimously recommended a vastly simplified tax system today that would limit the deduction of interest payments on large mortgages and erase other tax breaks that many Americans enjoy."

You can find the details of the proposed changes in the final report of the President's Advisory Panel on Federal Tax Reform.

Sources: "Panel wants to overhaul income tax: Dropping deductions, credits part of plan." Missoulian November 2, 2005. A7.
"Panel Recommends Major Tax Law Changes." New York Times November 1, 2005.