Find out what's in the $3.7 trillion budget proposed by President Barack Obama.
28 percent -- The percentage Obama wants to cap the value of itemized deductions at. Normally, a taxpayer multiplies their top tax rate by the amount of a deduction to calculate the taxes saved. But Obama's budget would cap that rate at 28 percent, which is below the top two income tax rates.
Keystone Resort/Ben Lindbloom
Jessica Rinaldi / Reuters
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