[bengalsrule]

*****Homeowners currently are able to deduct interest on their mortgages up to $1 million; however the panel's recommendation calls for the lowering of tax deductions on mortgages closer to $300,000,****

I would think a dem might support that. Those stinking rich people don't need a million dollar deduction anyways. LOL!

[scannell]

ONe point to make is that limiting the interest on a mortgage to the debt limit of $300,000 when allowing for about a 20% downpayment means that the limit on home purchase value is approximately $360,000. Hardly the value of a home that would deny "potential" homeowners their dream. But the number will be closer to $350,000 which means full deduction for interest on home valued up to $420,000.