GOP platform leaves out mortgage-interest tax deduction

The mortgage-interest tax deduction failed to make it into the Republican party’s economic platform after the party opted for a simpler tax code, with fewer reductions, according to The Wall Street Journal.

At one point, members of the GOP launched a proposal backing the inclusion of the deduction into the party’s platform. If it had been accepted, the party would have adopted the “We must preserve the mortgage interest deduction” line into its official economic plan.

Instead, the proposal created a dividing line between GOP members who see the deduction as a crucial stepping stone to homeownership and party leaders who believe a simpler tax code is needed overall.

Click here to read more.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s