FedFin on: Elimination of the Mortgage Payment Tax Deduction
The long list of budget options for reconciliation released by House Budget includes two with direct GSE impact as well as one – elimination of the mortgage-payment tax deduction – that would pack a major punch across the sector and is sure to be as vigorously opposed as usual. The list thus also includes a less painful and less deficit-beneficial reduction in the principal amount eligible for payment deductions from $750,000 to $500,000….
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