mortgage interest deduction

Biden’s Homebuyer Tax Credit Has Potential But Can Be Improved

A tax credit for first-time homebuyers could be an important step towards restructuring the way the US subsidizes home ownership. But the version President Biden...

March 22, 2024Howard Gleckman

Individual Taxes: TaxVox

Could A Boost In The Standard Deduction Kill The Mortgage And Charitable Deductions?

Could A Boost In The Standard Deduction Kill The Mortgage And Charitable Deductions? The House Ways & Means Committee may be about to approve a...

June 12, 2023Howard Gleckman Robert McClelland

Federal Budget and Economy: TaxVox

House Republicans Rethink Tax Increases, At Least For A Minute

House Republicans have, at least temporarily, redefined what they mean by a tax increase. By doing so, they have turned their backs on their decades-old...

May 2, 2023Howard Gleckman

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 McClelland Livia 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 Lu Eric 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

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

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 McClelland Safia Sayed