Last year, House Republicans released a blueprint that would lower income tax rates and reduce the number of tax brackets. Proposals to start taxing at least some health benefits are dividing House Republicans as they struggle to replace President Barack Obama's health law. ———EARNED INCOME CREDITNearly 30 million families claimed the earned income tax credit in 2016, which targets low-income working families with children. ———MORTGAGE INTERESTNearly 34 million families claimed the mortgage interest deduction in 2016, reducing their tax bills by $65 billion. ———PROPERTY TAXESNearly 35 million families deducted their taxes on their home or other real estate from their federal taxable income in 2016.
Source: ABC News February 26, 2017 13:18 UTC