Tax Policy Center

mortgage deduction

Individual Taxes: TaxVox
Nearly one-third of all federal tax expenditures--$384 billion in 2013 alone-- is aimed at various forms of asset building, such as retirement savings, higher education, and home ownership. Yet, according to research by several of my Tax Policy Center and Urban Institute colleagues, these tax
October 7, 2014Howard Gleckman
Federal Budget and Economy: TaxVox
Yesterday, Washington Post columnist Bob Samuelson urged lawmakers to “just eliminate…the whole notion of entitlements.” His provocative argument: The very word "entitlement" makes people believe these programs are somehow untouchable. They are, for instance, effectively exempt from the sequester’s
October 22, 2013Howard Gleckman
Individual Taxes: TaxVox
It has been an article of faith among most congressional Republicans and many Democrats that the corporate tax rate should be cut from today’s top level of 35 percent to 25 percent—or even less. And backers of the idea breezily suggest this could be paid for by scaling back some corporate tax
November 2, 2011Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
There is lots we still don’t know about GOP presidential hopeful Rick Perry’s tax and budget plan . But I am pretty sure of one thing: The proposal he released today would result in a massive tax cut and, combined with his vow to balance the federal budget by 2020, implies huge reductions in
October 25, 2011Howard Gleckman
Federal Budget and Economy: TaxVox
Sooner or later, Congress will realize it needs new revenues to help balance the budget, and trimming tax subsidies is the way to get them. But will it tackle individual preferences, such as the mortgage interest deduction, one at a time? Or, will it try to limit the political bloodshed and go
August 11, 2011Howard Gleckman
Individual Taxes: TaxVox
Tomorrow, the White House will release its ideas for overhauling mortgage giants Fannie Mae and Freddie Mac. While there is little agreement in Washington over just what to do, there is broad bipartisan support for big changes. In large part that’s because when the implicit government guaranty
February 10, 2011Howard Gleckman