Federal Govt Is Considering 20% reduction to mortgage interest deduction.

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Timing may not be the best for the economic recovery, and I'd prefer they cut from the military and administrative budget.

From: Your Daily Dose from DSNews.com


<http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i
d=fb01f8975e&e=ebe71b748c> Washington Weighs Trimming Mortgage Interest Tax
Deduction

Members of the commission created by President Obama to shrink the federal
deficit published a proposal this week that would significantly scale back
the mortgage interest tax deduction. One recommendation would reduce the
deduction amount by 20 percent. The second calls for the exclusion of second
residences, home equity loans, and mortgages over $500,000. The proposal has
drawn criticism from industry groups who say now is not the time to wrench
incentives from a housing industry struggling to get back on its feet.

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