Opinion: Axing the mortgage deduction would be more progressive and less expensive than current policy and would actually help middle-class families become homeowners, writes WilliamGale2
Less than half as many American taxpayers are claiming the mortgage-interest deduction for 2018 as did the year earlier. With any luck, the 2017 tax overhaul will prove to be only the first step toward eventually replacing the century-old housing subsidy with a more effective program.
Taxpayers claim the greater of the standard deduction or the sum of various itemized deductions, including mortgage interest. The Tax Cuts and Jobs Act of 2017 raised the standard deduction, capped deductible state and local taxes at $10,000,...
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