Congress, as part of negotiations on avoiding the “Fiscal Cliff,” has made direct references to
“closing loopholes” and “limiting deductions” as a way to raise revenues.
Clearly, the mortgage interest deduction is high on this list of revenue
raisers.
larger proportion of the middle class takes the deduction. In California 89% of
those who took the mortgage interest deduction earned less than $200,000. Losing
the deduction would cost the average California taxpayer over $3,900.
that the mortgage interest deduction be preserved. The public may reach Congress by calling 202-224-3121.
– 6 p.m., Eastern Time.
in danger. Please do the following to make sure that the message spreads.
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