TAX REFORM

Our National Association of REALTORS has been actively engaged in the tax reform debate. The plan is expected to double the standard deduction and eliminate all personal deductions except the Mortgage Interest Deduction and the deduction for Charitable Contributions. The plan eliminates the deduction for State and Local Taxes. This will be devastating to middle class homeowners by removing economic incentives for homeownership and raising taxes by an average of $851. By doubling the standard deduction, the Mortgage Interest Deduction would only be available to the top 5 percent of taxpayers.

PLEASE LET YOUR REPRESENTATIVES KNOW HOW YOU FEEL!!

Share

Speak Your Mind

*

All information deemed reliable but not guaranteed. Copyright 2016.



© 2016 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered services marks of HomeServices of America, Inc.® Equal Housing Opportunity.