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Middle class mortgage interest deduction could be in GOP sights

by Dan Burns on January 5, 2017

middleclassIf this might affect you personally you really should read the whole article. There are multiple factors in play.
 

Considering it’s been less than a decade since the real estate crash that plunged the world into economic calamity, you might think Republicans in Congress would be a little wary of legislation that risked infuriating voters by pushing down house prices.
 
Apparently not! As part of the massive tax-cut push they’ve cued up for this year, GOP leaders are quietly contemplating a proposal that would indirectly curtail the mortgage interest deduction, long considered a sacred cow of American tax policy. The move would almost certainly lead some home values to fall, though it’s hard to predict by how much.
(Slate)

Proper reform of the deduction would stick to making it a lot less of yet another handout to the rich man. But that’s not in the cards.
 

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