Eliminating itemized deductions would raise revenues by approximately $85 billion per year. This largely upper-income tax increase could be used to reduce tax rates or contribute to the revenue portion of a deficit reduction “grand deal.”

Eliminating itemized deductions would raise revenues by approximately $85 billion per year. This largely upper-income tax increase could be used to reduce tax rates or contribute to the revenue portion of a deficit reduction “grand deal.” https://t.co/ooFVBHou6M via @Economics21

— Manhattan Institute (@ManhattanInst) July 16, 2019