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Research report

Options to Reform the Deduction for Home Mortgage Interest

Amanda Eng, Harvey Galper, Georgia Ivsin, Eric Toder
March 17, 2013
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Abstract

Taxpayers can currently deduct interest on up to $1 million in acquisition debt used to buy, build, or improve their personal residences and interest on up to another $100,000 of home equity loans. This brief estimates the effects on revenue and the distribution of the tax burden of proposals that would replace the current mortgage interest deduction with a non-refundable interest credit of either 15 or 20 percent of interest and reduce the ceiling on the amount of all eligible mortgage debt to $500,000. We also estimate the revenue effect of phasing in the proposals over five years.

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Campaigns, Proposals, and Reforms Federal Budget and Economy Individual Taxes Homeownership
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Meet the Experts

  • Amanda Eng
  • Harvey Galper
    Visiting Fellow
  • Georgia Ivsin
  • Eric Toder
    Institute Fellow and Codirector, Tax Policy Center
Brief

Understanding the Maze of Recent Child and Work Incentive Proposals

Elaine Maag, Nikhita Airi
June 1, 2020
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