Future of Mortgage Interest Deduction Questioned

Current law allows interest deduction on mortgage debt totaling $1 million, and up to $100,000 in home-equity loans, for a principal and second home.  Because the deduction reduces federal revenues to the tune of $100 billion annually, there is now talk on Capitol Hill and in policy circles for cutting back or eliminating it. 

Wall Street Journal    May 18, 2011

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