Battle Over Mortgage Interest Deduction Continues in House Committee

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Posted To: MND NewsWire

The House Ways and Means Committee heard a wide variety of opinions today at a hearing on housing tax incentives . Representatives of the housing, building and real estate industries as well as policy experts spoke both in favor and against the mortgage interest deduction (MID) tax deductions for property taxes, the real estate capital gains exemption and the low income tax credit. Robert Dietz, assistant vice president of the National Association of Home Builders (NAHB), called on Congress to maintain its support for vital housing tax incentives. "Home building is an industry dominated by small businesses, so the idea of simplifying the complicated tax rules related to business has great appeal. At the same time, our industry remembers painful lessons from the 1986 Tax Reform Act, when the...(read more)

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Source: http://www.mortgagenewsdaily.com/04252013_housing_tax_provisions.asp

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