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Reconciliation Bill Restricts Itemized Deduction Values for Wealthy

By NAIFA on 7/15/25 10:47 AM

A “tax-the-rich” provision in the new law reduces the value of itemized deductions for 37 percent taxpayers. The provision would replace current law’s Pease limitation on the value of itemized deductions.

Topics: Legislation & Regulations Tax Reform Charity

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