Document Type

Article

Publication Date

Winter 2006

Publication Title

Newsquarterly: ABA Section of Taxation Newsletter

Keywords

Tax Reform Act of 1986, mortgage interest rate deduction

Abstract

The current tax treatment of qualified residence interest is far from perfect. The President's Advisory Panel on Federal Tax Reform's proposal related to the current home mortgage interest deduction does little to advance Congress' clearly-stated policy of encouraging homeowership while, at the same time, it will have an almost-certain negative effect on home prices. The author asserts that those whose home is their most valuable asset have much to fear should the Panel's recommendations come to fruition.

Comments

Point/Counterpoint Column

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