Effects of Tax Incentives on Homeownership

Brief

Effects of Tax Incentives on Homeownership

Abstract

Federal tax law provides several tax benefits for homeowners. This chartbook focuses on the home mortgage interest deduction. We provide updated estimates of the distributional effects of the home mortgage interest deduction, show how those estimates could change if people pay down their home mortgages in response to an elimination of the deduction, and provide estimates of revenue-neutral reform alternatives that replace the current deduction with a tax credit.

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