The [National Commission on Fiscal Responsibility and Reform] specifically proposes to exclude mortgage-interest deductions for second homes, home-equity loans and mortgages over $500,000.So . . . not a complete elimination, but a rollback that affects primarily wealthy homeowners. Might be time for your best Emily Litella at this point.
12 November 2010
What is the actual proposal about eliminating the mortgage interest tax deduction?
I'm still looking for a primary source, but here's what a NASDAQ analyst says about the proposed change to the mortgage interest tax deduction: