GOP platform won’t protect mortgage tax deduction

By James Rowley

Bloomberg

Republican platform drafters refused to put their party on record for preserving the mortgage- interest deduction, giving Mitt Romney more flexibility to promote his plan to lower tax rates paid by corporations and the wealthiest Americans without increasing the federal debt.

The platform panel, meeting in Tampa, Florida, in advance of the Aug. 27 Republican National Convention, defeated a proposed mortgage deduction amendment by a show of hands as it moved toward today’s scheduled completion of the draft statement of positions the party will offer voters in the November election.

The document, which was also amended to include a call for Federal Reserve audits, will be submitted next week for approval by the full convention.

The mortgage interest vote was a shift in Republican policy from four years ago, when the party platform said that “because affordable housing is in the national interest, any simplified tax system should continue to encourage homeownership, recognizing the tremendous social value that the home mortgage interest deduction has had for decades.”

Continued:

Also:

County supervisors set tax rates/Cochise County

Supervisors adopt tax rates for 2012-13/Mojave County

Maricopa supervisors vote to keep Maricopa County property tax rate: Decision means some homeowners will see their tax levy drop by nearly $20

Court to hear arguments over Arizona foreclosure prevention program/Phoenix Business Journal

A Maricopa County Superior Court will hear arguments Wednesday over the state’s controversial budget sweep of money that was designed to go toward home foreclosure prevention.

Realty Executives Phoenix ousts top leadership/Phoenix Business Journal

ASU W.P. Carey School launches online real estate certificate program/ Phoenix Business Journal

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