If you own an expensive home, or multiple homes, you probably benefit from the Mortgage Interest Deduction. That deduction seem to be destined for reduction.
Ron Eachus at The Statesman Journal just wrote Let’s Refine the Mortgage Interest Deduction. It’s a thorough synopsis of which debt reduction plans propose which cuts to this surprisingly popular tax deduction.
He writes, “Polling indicates overwhelming support for the deduction. A New York Times/CBS poll from June 24-26 showed over 90 percent opposed eliminating the deduction.”
A must read if you invest in real estate, home builders or benefit from this deduction.