Don’t let congress raise taxes on middle class homeowners

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DONT TAX HOMEOWNERS

 NAR supports tax reform, but Congress needs to first do no harm to tax incentives that encourage home-ownership. It’s important to us that we seek to assure that tax reforms support the goals of homeownership and the freedom to buy, maintain and sell real estate.

 

 

The plan is expected to double the standard deduction and eliminate all personal deductions except the Mortgage Interest Deduction and the deduction for Charitable Contributions.  The plan eliminates the deduction for State and Local Taxes. By doubling the standard deduction, the Mortgage Interest Deduction would only be available to the top 5% of taxpayers.  READ MORE

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