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[21 Apr 2011 | 2 Comments | 4,403 views]
The mortgage interest deduction — retain it, modify it or eliminate it?

In December, it appeared a proposal to radically alter the mortgage interest deduction had failed.
It seems the issue is back on the table as President Barack Obama on April 13 raised the possibility of at least altering the deduction. The U.S. Treasury Department estimates the deduction will cost the federal budget around $100 billion in 2012, so it’s no surprise that Obama is taking a look at the deduction as the aforementioned effort — a report generated by National Commission on Fiscal Responsibility and Reform — was a proposal setting …