Friday, July 8, 2011

End or Cap the Mortgage Interest Deduction

Republicans should applaud eliminating or capping the mortgage interest deduction.

Why?

Expensive homes bought by upper-income households, who get the largest benefit of the mortgage interest deduction, are largely in Democrat blue states, such as California, New York, and Connecticut.  Lower- and middle-income households in Republican red states typically take the standard deduction instead of itemizing.

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