- Housing, Contexts, and the Well-Being of Children and Youth
- Volume 16 Number 1
- Managing Editor: Mark D. Shroder
- Associate Editor: Michelle P. Matuga
Congress Should Phase Out the Mortgage Interest Deduction
The mortgage interest deduction is one of the most expensive federal tax preferences. The Joint Committee on Taxation (2013) estimated that the deduction will cost about $380 billion from fiscal years 2013 through 2017. Homeowners also benefit from the deduction of real property taxes and the exemption of the first $250,000 ($500,000 for couples) of capital gains on the sale of principal residences.
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