Subject: Real Estate Interest Deduction Comment: The tax reform commission's idea balloon that the mortgage interest deduction should be scaled back from $1,000,000 to $300,000 or $350,000 is a Clinton-esque idea that will destroy the housing market. When I made the analysis to purchase my recent home, I was counting on the tax deduction to make up for the larger increase in property taxes I would pay. By taking away the deduction, and therefore decreasing this after tax cash flow, you are making my house unaffordable. I am by no means "rich" - just a middle class consumer. Please do not destroy the housing market. |