Wednesday, December 01, 2010
Deficit cutting measure
One of the measures broached by the Deficit Reduction Commission last week was the possibility of modifying the mortgage interest deduction. The 18-member bipartisan commission is supposed to present its recommendations this week.
Phipps drew on NAR analysis of previous efforts to change tax policy, including 1986, 1996, and 2005 tax reform efforts, to show the detrimental impact such changes would have on the housing market. Speaking for myself, that measure is going to be a tough sell.To be part of the final report, the measure must get the approval of 14 of the 18 members.
Phipps drew on NAR analysis of previous efforts to change tax policy, including 1986, 1996, and 2005 tax reform efforts, to show the detrimental impact such changes would have on the housing market. Speaking for myself, that measure is going to be a tough sell.To be part of the final report, the measure must get the approval of 14 of the 18 members.
