If Congress repealed the mortgage interest deduction, would you miss it?
Local columnnist Scott Burns addresses that question in today's Houston Chronicle. Click here for his thoughts.
It seems to me that one can't answer that question without factoring into the discussion what other itemized deductions the taxpayer can claim (such as charitable contributions).
And query whether repealing the mortgage interest deduction would have an adverse effect on the overall housing market. The National Association of Realtors thinks so, suggesting a possible reduction on home values "by an average 15 percent."
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