Bowles Says Romney Plan Would Require Ending Tax Breaks

Republican presidential candidate Mitt Romney’s plan to reduce tax rates would need to be financed by ending widely used benefits such as the mortgage interest deduction, said Erskine Bowles, who was co-chairman of President Barack Obama’s deficit-reduction commission.

Romney is “partly right and partly wrong” when he says he can cut tax rates by 20 percent and make up the money by curtailing tax breaks, Bowles said on Bloomberg Television’s “Conversations with Judy Woodruff,” airing this weekend.