Tax Policy Center

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T23-0066 - Tax Benefit of the Deduction for Mortgage Interest under Current Law with an Increase in Standard Deduction, by ECI Level, 2024

Table shows the tax benefit of the itemized deduction for home mortgage interest under current law plus the increase in the standard deduction proposed by the Tax Cuts for Working Families Act ($2,000/$3,000/$4,000 for single, head of household, and married filing jointly and phased out at higher income levels), by expanded cash income level, in 2024.

June 12, 2023