Tax Policy Center

MID

Federal Budget and Economy: TaxVox

How the TCJA Affected the Housing Market

When the Tax Cuts and Jobs Act (TCJA) was enacted, critics claimed that reducing the tax subsidy for mortgage interest would hurt home values ...
March 30, 2022Robert McClellandLivia Mucciolo
Individual Taxes: TaxVox

Key Questions Biden Will Need to Answer About His First-Time Down Payment Tax Credit

There are many benefits to a first-time homebuyer tax credit, such as the one proposed by President-elect Joe Biden. However, the transition from the...
November 30, 2020C. Eugene Steuerle
: TaxVox

Biden’s First-Time Homebuyer Tax Credit Is A Big Improvement Over The Mortgage Interest Deduction

A $15,000 tax credit to help new homebuyers with their down payment is a significant improvement over today’s primary subsidy for homeowners.
October 22, 2020C. Eugene Steuerle
Individual Taxes: TaxVox

How Would Paydown Affect The Reform Of Home Mortgage Interest Deduction?

Reforming the mortgage interest deduction (MID) could raise federal tax revenue and make the tax system more progressive. But some taxpayers, especially those with high...
July 21, 2020Chenxi LuEric Toder
: TaxVox

The Tax Cuts And Jobs Act Reduced Tax Expenditures But By Much Less Than The 1986 Tax Reform Act

For years, tax reformers have advocated reducing marginal tax rates, broadening the tax base, and eliminating provisions that provide special benefits to select forms of...
December 10, 2019Eric Toder
: TaxVox

The TCJA’s Cap On Mortgage Interest Deductions Tells Us That Taxes Matter, Up To A Point

When Congress passed the Tax Cuts and Jobs Act in December of 2017, it made a number of changes to the individual income tax (almost...
September 13, 2019Robert McClellandSafia Sayed