The New Republican Legislation on Tax Reform: MID Reform and Next Steps for Our Campaign
Presenters from NLIHC’s policy team discussed the tax reform legislation unveiled by House Republicans on November 2, which lowers the cap on the mortgage interest deduction. Combined with an increase in the standard deduction, some estimates indicate the changes will result in only 4% of taxpayers using the MID. The Republican proposal does not, however, convert the MID into a tax credit or invest the savings from lowering the cap into affordable housing solutions for the lowest income people, as called for by United for Homes. Learn more about how United for Homes will engage in a campaign with respect to the proposed tax reform bill.