Trump administration weighs slashing mortgage deduction

Trump administration weighs slashing mortgage deduction

A tax break popular with homeowners and the real estate industry could take a hit as Republicans look for ways to pay for their tax reform plan. Despite promises from the Trump administration in April that it would “protect the homeownership … deductions,” multiple sources tracking tax reform said that the cap on the mortgage interest deduction — currently set at the interest on up to $1 million of mortgage debt — could be lowered in tax reform.

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