15 Smart Ways to Cut the Budget

15 Smart Ways to Cut the Budget

February 26, 2013

Replacing the Mortgage Interest Deduction - $300 Billion

Replace the mortgage interest deduction with a 15 percent refundable credit based on up to $300,000 of mortgage principal.

Broader benefits to U.S. economy
Reduces the artificial incentive for the construction of high-end homes by reducing and better targeting the tax breaks for housing.

<p>Replace the mortgage interest deduction with a 15 percent refundable credit based on up to $300,000 of mortgage principal.</p> <p> <strong>Broader benefits to U.S. economy</strong> <br />Reduces the artificial incentive for the constructprevnext

iStockphoto/The Fiscal Times

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