For instance, in just a few paragraphs, they fracture the arguments for low rates on capital gains and propose a better alternative (a partial exclusionfromincome).
Surprising many ( govtrack.us gave it a 1% chance of passing as a separate bill), the parity between the exclusionfromincome for employer-provided mass transit and parking benefits was extended.
Specifically, the President would make permanent the expanded American Opportunity and Earned Income credits and extend through 2016 the current exclusionfrom taxable income for cancellation of indebtedness recognized on a primary residence.