WASHINGTON A top White House official made clear on Tuesday that President Obama is committed to a 28% cap on the value of tax expenditures, which would include tax exempt interest from muni bonds, for higher income earners.
The president has not only shown a willingness to support that type of reform on tax expenditure reductions, he has led on the issue and put forward a specific and detailed of a proposal to raise over $500 billion, said Gene Sperling, the director of the National Economic Council, at an event hosted by the Campaign to Fix the Debt.
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