Grade 9-12

Making Sen$e with Paul Solman: Lawmakers Consider Cutting Tax Deductions to Bring Down the Deficit

Updated: December 10 2012,
Author: barrel fan
Open Video

While tax breaks are popular, their future may be limited. Congressional leaders are deliberating on how they can increase revenue in order to bring down the deficit, and deductions may be on the chopping block. Paul Solman explores write-offs for charitable donations, mortgage interest and state and local taxes.