Deficit Commission Targets MID

What’s in Store for Proposed MID Curbs?

You’ve probably heard a lot about last month’s federal deficit commission plan, including some of its proposals to curb the mortgage interest deduction (MID). Although the reported plan won’t automatically get a vote in Congress, MID changes and other recommendations in the report could be included in the President’s budget proposal submitted to Congress in January.

To learn more about this, watch this video with Director of Tax Policy Linda Goold and NAR Deputy Chief Lobbyist Jamie Gregory talking about what’s next for President Obama’s deficit commission plan to curb MID now that the commission report failed to receive a “super-majority” vote.