mortgage interest

Taxation of Capital Income Is Not Race Neutral

The Internal Revenue Code generally does not refer to race or ethnicity, but federal income taxes may contribute to racial disparities when factors that affect...

September 28, 2023Janet Holtzblatt Laura Kawano Robert McClelland Gabriella Garriga

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

Homeowners, Can You Pay Down Mortgage Debt Through Asset Rebalancing?

Several changes in the Tax Cuts and Jobs Act (TCJA) significantly reduce the tax benefits of taking out a home mortgage (though these changes are...

November 20, 2019Chenxi Lu

: TaxVox

TPC Is Improving Its Modeling Of Five Tax Expenditures

In a new initiative, the Tax Policy Center is improving its modeling of five key tax expenditures: the tax treatment of pass-through entities, charitable giving,...

December 18, 2018Mark J. Mazur

Federal Budget and Economy: TaxVox

The GOP Debate: Squabbles Over Refundable Credits, Deductions, and Conservatisim

Last night’s GOP presidential debates ( here’s a transcript of the main event) highlighted some important tax policy contrasts among the candidates. One thought refundable credits are conservative economic policy while another did not. Nearly all would preserve deductions for mortgage interest and

November 11, 2015Howard Gleckman

Individual Taxes: TaxVox

Tax Expenditures for Asset-Building: Costly, Regressive, and Ineffective

Most federal subsidies aimed at helping households accumulate financial and tangible assets are delivered through tax expenditures—spending through the tax code. In 2013, these deductions, deferrals, and credits aimed at encouraging such asset building totaled over $350 billion, most devoted to

April 9, 2014Benjamin H. Harris

Campaigns, Proposals, and Reforms: TaxVox

What Changes in the Mortgage Deduction Would Mean for Home Prices

Tax preferences for housing are under fire, with mounting evidence that these preferences are inefficient , unequal , and too expensive to warrant a place...

June 5, 2013Benjamin H. Harris