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Monday, October 25, 2010

Is Mortgage Interest Deduction on the chopping block?

If the federal government does something like this it needs to be phased over 20 years.  It would be unfair to homeowners that have a mortgage and would probably increase the defaults.
At stake, in addition to the mortgage-interest deductions, are child tax credits and the ability of employees to pay their portion of their health-insurance tab with pretax dollars. Commission officials are expected to look at preserving these breaks but at a lower level, according to people familiar with the matter.
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