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Romney signals limits on tax breaks

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As election day nears, Gov. Mitt Romney has gotten more specific about his tax plan. In an interview with a Denver TV station earlier this week, Romney discussed the idea of putting a cap on itemized deductions. One option, he mentioned, was limiting taxpayer deductions at $17,000, with higher income filers coming in at a lower number. But that is just one part of a broader strategy to cut income tax rates by 20 percent, according to the Romney campaign.