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Expert Analysis

Tax Plans To Eliminate Interest Deductions Miss The Mark

Law360, New York (August 12, 2015, 2:30 PM EDT) -- In March, Republican presidential candidate Sen. Marco Rubio of Florida, together with Sen. Michael Lee, R-Utah, released their Economic Growth and Family Fairness Tax Reform Plan. The plan would eliminate taxation on interest, dividends and capital gains. It also would eliminate the deduction for interest expense. Several other Republican presidential candidates have generally described ideas for tax reform that would involve eliminating many deductions, though it currently is unclear whether, or the degree to which, the interest deduction would survive....

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