Mortgage Interest Deduction

[David Greene]

http://www.southwestjournal.com/voices/ ... -minnesota

I'll quickly note the audacity of someone in Lowry Hill advocating for the mortgage interest deduction as a benefit for the middle class.

Is anyone aware of the referenced legislative efforts to eliminate the state mortgage interest deduction? This would perhaps be one of the most equitable things we could do with our tax policy, asuming the proceeds aren't redirected back to wealthy people. I would totally work to pass a repeal of the mortgage interest deduction.

[VAStationDude]

Governor Dayton has made tax simplification a priority while the legislature (mostly the Senate) has been absolutely terrible at working towards that goal. An individual legislator could always propose eliminating the mortgage interest deduction but it doesn't jive with the governor's tax policy goals or the House leaderships.

As you mentioned David mortgage interest deduction really only benefits the wealthy. My wife and I have an income several times higher than the Minneapolis median household income and we get about $200 a year in federal tax savings from the mortgage interest deduction. Fran's wealthy lakes area clients benefit immensely when they clearly don't need any help. They just like the subsidy.

[seanrichardryan]

http://www.southwestjournal.com/voices/ ... -minnesota

I'll quickly note the audacity of someone in Lowry Hill advocating for the mortgage interest deduction as a benefit for the middle class....

She's also a realtor.