Eliminating the deduction for mortgage interest and property taxes means the government will collect more in taxes.
This allowed the government to, in exchange, lower the tax rates for everyone. They also doubled the standard deduction which you can take whether or not you have so much in actual deductions. This applies to everyone.
But it benefits renters WITHOUT THE CORRESPONDING LOSS that owners will experience from the phased out interest and tax deductions.
It's a sad day when we are forced to view "Not Losing as a Win!"
I guess that follows the logic, "If it didn't kill me it made me a better person!"