So far The Boston Globe has the best spin-to-fact ratio.

The committee proposes to cut the cap on interest deductions for home mortgages; taxpayers could deduct interest for only the first $350,000 of their mortgages, rather than the first $1 million. The panel also proposes that employer-provided family healthcare plans valued above $11,000 and individual plans worth more than $5,000 be treated as taxable income. Currently, healthcare benefits aren't subject to taxation.

The panel would collapse the current six tax brackets into four, with the top rate remaining at 35 percent and threequarters of taxpayers in the bottom bracket of 15 percent.

The panel calls for cutting the tax rate on personal-investment income such as interest on bank accounts, which currently is taxed at the same rates as other income. The committee would lower it to a flat rate of 15 percent.

It also would lower the corporate tax rate from a maximum 35 percent now to a flat rate of 32 percent. Businesses would lose a number of write-offs for depreciation of equipment but could immediately write off most other capital-intensive investment.