The Mortgage Interest Deduction And The U.S. Housing Market | WAMU 88.5 - American University Radio

WAMU 88.5 : The Diane Rehm Show

The Mortgage Interest Deduction And The U.S. Housing Market

President Barack Obama seems to be, so far, holding firm on his campaign pledge to raise tax rates for those with taxable income above $250,000, but he has also not ruled out reducing or eliminating longstanding tax breaks including the mortgage interest deduction. It’s been in effect for almost a century, and now costs about $100 billion a year in lost tax revenues. For many upper income tax payers, its benefit is clear, and it’s also believed to encourage home ownership. Please join us to discuss who the mortgage interest deduction helps, who it hurts and what would change if the rules were modified.

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