Let's Get Specific Series

Let's Get Specific is where CRFB will compile a growing list of specific measures lawmakers can enact to reduce the federal deficit.  More explanantion-----

Spending Cuts                            

               10-Year Savings (billions)*
Item 1 
Item 2  
Item 3  

Tax Increases                          

               10-Year Savings (billions)*
 
Mortgage Interest Deduction
 Reduce the maximum mortgage on which interest can be deducted from $1.1 million to $500,000$41.4
 Convert the mortgage interest deduction to a 15 percent tax credit$387.6
 
Gas Tax
 25 cent increase$305.1
 50 cent increase$604.8

 


Total

 $346.5 - $992.4

* Amount saved based on CBO estimate of what each measure would save over a 10-year window, unless otherwise indicated.