GOP presidential hopeful Mitt Romney is looking at reducing income tax deductions to a flat $17,000.
Romney presented the idea during an interview with a local television station in Denver.
CNBC's Larry Kudlow is troubled by the proposal, at least at first glance. “I don’t want middle class taxes to go up at all."
Kudlow's biggest concern is the mortgage deduction.
A $300,000 mortgage with an interest rate of 6 percent would end up with $18,000 a year in mortgage interest, writes The Hill, which also reported the Romney proposal.