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Poconos Custom Home Blog

Setting the Record Straight on the Mortgage Interest Deduction

Posted by Liberty Homes on Aug 1, 2013 2:19:53 AM

NAHB, 2013 - As the Senate examines existing tax policies as part of its “blank slate” approach to tax reform, and as the House Ways and Means Committee continues its review of the tax code, it is appropriate to keep in mind the importance of the mortgage interest deduction (MID) as a middle-class tax provision that makes it possible for many families to achieve homeownership. It is also useful to review some of the claims against the MID to determine if those claims are valid. Economists at the National Association of Home Builders (NAHB) have analyzed data from the IRS and the Census Bureau, as well as estimates from other sources, to assess the validity of these claims.

Claim #1: The wealthy get most of the benefit from the mortgage interest deduction.

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Topics: United States House Committee on Ways and Means, Liberty Homes, United States, Poconos Custom Home Design, Aging in Place in the Poconos, Poconos Lifestyle, Poconos Homes

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