Less than 24 hours before his first presidential debate, republican candidate Mitt Romney suggested that he might cut the mortgage interest tax deduction. This cut will be part of his plan, to cut taxes across the board by 20 percent if he wins the upcoming presidential election in November.
In his interview with Denver TV station KDVR, Romney said "As an option, you could say everybody's going to get up to a $17,000 deduction; and you could use your charitable deduction, your home mortgage deduction, or others - your healthcare deduction. And you can fill that bucket, if you will, that $17,000 bucket that way."
"And higher income people might have a lower number."
Before shying away from the topic, Romney's comments on the suggested tax cuts included erasing or lowering many popular tax breaks such as deductions for charitable donations and mortgage interest.
Campaign Spokeswoman for Romney Andrea Saul, told Newsday that the republican nominees plan would cut taxes for middle income earners.
"There are a range of policy options, Gov. Romney referenced one illustrative example, to achieve these goals."
She, however, did not mention any other options according to Newsday.
Although his numbers seem impossible to add up, Romney failed to mention any thoughts of changing that plan and said his entire plan would speed up the slowly recovering economy.
According to ABC News, the Obama campaign wasn't impressed.
"Romney still refuses to be straight with the American people," Lisa Smith Told ABC News.
"While he promised to pay for his $5 trillion tax cut plan that's skewed toward millionaires and billionaires by closing tax loopholes for the wealthiest Americans, independent analysts have shown that his plan can only be paid for by eliminating deductions that middle class families rely on, like the mortgage interest deduction."
Both Romney and President Barack Obama are in Denver, getting ready to face each other on their first debate on Wednesday, at 9 p.m.
