Monday, February 20, 2006

Mortgage interest deduction appears safe

As we reported on in our October 16, 2005 post, one of the possible tax provisions that might be amended as part of proposed reforms being studied is the mortgage interest deduction, including the possible limination of the deduction.

Well, President Bush's addressed the issue this week in his comment, "I don't think you have to worry about the mortgage deduction not being a part of the income tax law."

We note that in our opinion, this still raises the possibility that the mortgage interest deduction might be adjusted in some fashion.

Further, President Bush did sound a warning about interest rates continuing to increase.

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