ch: Our Values in Action

Ideas: Middle-Class Tax Fairness

MVP-endorsed candidate Patty Wetterling, running against single issue (gays) candidate Michele Bachmann for Minnesota’s 6th Congressional seat in the US House, has released a new middle-class tax fairness plan that would “lift the burden off of the middle class, provide them access to greater opportunities and give them hope for the future.” Some of the planks:

Universal Mortgage Deduction
A home mortgage deduction for all homeowners, not just those who itemize their taxes. This approach is less complicated, makes the benefit more accessible and will encourage more home ownership.

The College Credit (Refundable Credit for Higher Education Expenses)
A college tax credit of $3,000 for all college students. This credit will help increase access to higher education and economic success. It combines several current tax incentives: the Lifelong Learning Credit, the HOPE Scholarship, the Deduction for Higher Education Expenses and the exclusions of employer-provided education benefits and qualified tuition reductions.

You can read more of the plan here. And the Mpls Star-Tribune’s write-up here.

Bachmann on middle-class fairness? “Making President Bush’s tax cuts permanent.”