Is the Mortgage Tax Credit Going Away?
The financial crisis of the past few years has left an indelible mark upon most parts of society. Lawmakers are faced with the largest national debt in the country’s history. Although mortgage interest rates are at all time lows home sales are still sluggish. Cuts are coming to all parts of the government and some members of Congress are wondering if the credit for mortgage interest should be eliminated.
A recent poll revealed some interesting facts. About half of the people polled feel that the tax deduction should be left alone. But the other half varied widely on their opinions.
One person in his late 50′s stated that he and his wife received a benefit from the mortgage deduction since he owns a home with his wife. However, he felt that if reducing or eliminating the deduction would help stabilize the country then he was ok with it.
Read the rest of Is the Mortgage Tax Credit Going Away? (168 words remain)
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