November 26, 2010
Andrew Presti- Author's Bio
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Long considered a key ingredient of American homeownership, the income-tax deduction for mortgage interest now is on the menu of the commission looking for ways to trim the federal deficit.
Among the $3.8 trillion in debt-cutting options being considered by the National Commission on Fiscal Responsibility and Reform is a scaled-down tax deduction eliminating second homes, mortgages of more than $500,000 and home-equity loans.