GOP Eyes $750,000 Mortgage Cap, Lawmaker Says: Tax Debate Update

EY Americas’ Cathy Koch discusses the corporate tax rate and the tax reform bill making its way through Congress.(Source: Bloomberg)

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By Bloomberg News

December 12, 2017 at 12:35 PM UTC

Updated on

December 12, 2017 at 10:36 PM UTC

This article is for subscribers only.

House and Senate Republicans are working this week on compromise tax-overhaul legislation in an effort to send it to President Donald Trump as soon as next week. Here are the latest developments, updated throughout the day:

House and Senate negotiators are planning to limit the deduction for mortgage interest to loans of $750,000 or less, according to Representative Tom MacArthur, a New Jersey Republican.