By Bernie Becker - 10/24/13 03:35 AM EDT
CTJ also proposes ending deferral, the provision that allows multinational corporations to push off paying taxes on offshore income until they bring the profits to the U.S.
Republicans and business groups also want to end deferral, but want to instead shield most offshore income from taxation.
Among the other proposals in the CTJ plan: Capping itemized deductions at 28 percent, as President Obama has suggested for years, and ending a provision that allows businesses to more quickly write off purchases.
The proposal underscores the divide between the left and the right on taxes, with conservatives stressing that they’ll draw the line on further tax increases in upcoming budget talks.