Subject: Mortgage Deduction Cap
Comment: My husband is an O-5 in the Navy and he and I live in San Diego, California. The median price of a home in San Diego is $525,000. It is absolutely unacceptable to limit the deduction amount on a home loan to $300,000. Not only would it discourage home buying, but it would negatively impact an entire segment of the economy.
I suggest one of the following: rolling back the proposed tax cuts; limiting tax shelters to corporations; limiting the amount of subsidies given to the tobacco and farming industries. My husband and I are by no means wealthy. I suspect a good number of the people in California with mortgage loans above $300,000 re not either.
Please re-examine this proposition.
Vanessa J. Veazie