Do believe FOX seems to think this is a trial balloon as 14 of the 18 members have to agree with the final recommendations and I would be surprised if they can get the 14. The elimination of interest on housing would amount to a huge tax increase for a lot of folks. Where are the cuts - other than in Medicare? And this needs to be uniform - i.e., no pensions for anyone including government employees until age 68. One time in my life I’m glad to be old.
It would also cause a huge drop in the price of real estate, which would make many mortgages unaffordable, and increase defaults. The hit to Fannie, Freddie, and the banks would be enormous.
I can see a case for non-deductibility of mortgage interest in a Fair or Flat Tax world with lowered spending, but as a one-off item it would have devastating consequences.