8 GOP Lawmakers Slam Mortgage Plan

Heller, Michelle
November 2005
American Banker;11/23/2005, Vol. 170 Issue 225, p3
Trade Publication
This article reports on opposition in the U.S. Congress to a White House tax panel recommendation to reduce the home mortgage deduction. Eight Republican members of the House Ways and Means Committee sent Treasury Secretary John Snow a letter opposing the idea. U.S. President George W. Bush's Advisory Panel on Tax Reform proposed replacing the current deduction with a credit equal to 15% of mortgage interest paid, and putting a cap on the mortgage amount at average regional housing prices.


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