Lawmakers Weigh How to Curb Mortgage Interest Tax Break
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U.S. lawmakers are weighing how far they can go in altering one of the most politically sensitive provisions in the tax code: the deduction for home mortgage interest.
While pledging a “careful, thoughtful review,” House Ways and Means Chairman Dave Camp asked witnesses at a hearing yesterday for ideas on how to transition to a new, still-unspecified system. That’s a signal he’s considering changes that could be disruptive to real estate markets and looking for ways to soften those effects.