There’s no question that Americans need to make some tough choices about priorities we do and do not want our tax dollars to support. Changes in policies supporting home ownership potentially impact your own family and wallet as well as our recovering housing market and broader economy and the institution of home ownership – the American Dream itself – for generations to come. It remains to be seen how Americans feel about preserving policies that support and encourage home ownership.
Fast Fact: If Congress repeals Section 1031 of the Tax Code, our country could lose as much as $120 billion in economic growth in the next 10 years. Even if you never use Section 1031 of the Tax Code, it can impact you — in a positive way. This The 103 …
Building home equity is how many Americans are able to save up money — thanks to a capital gains exclusion on home sales. Without it, many couldn’t even save for retirement.
Fast Fact: Millions of homeowners avoided foreclosure because of the Mortgage Forgiveness Debt Relief Act. Millions more still need help. Tell Congress to renew the Act and protect our home values. In the early months of the housing crisis, Congress d …
The home mortgage interest deduction saves the average home owner thousands of dollars at tax time, supports home values at the community level, and helps American home buyers get into their first house.
The home mortgage interest deduction is vital to the housing market. The MID saves the average home owner thousands of dollars every year. It also makes the dream of home ownership a reality for America’s middle class.
Meet Bill and Mary. A married couple, they sold their primary residence last year and made a profit. The profit they made on their home sale is subject to a federal capital gains tax.
Protect Your Home Tax Deduction
Don’t let Congress take away your Home Interest Deductions!
Changes to the Mortgage Interest and Real Property Tax Deductions will harm the financial stability of American families. Urge Congress to oppose any changes to income tax deductions on your home.