(Editor’s note: Opinion pieces are published for discussions purposes only.)
By Nick Gillespie & Todd Krainin | Reason.com
Thankfully, one of the biggest scams in the American tax code is finally under attack in the House version of Republican tax reform.
It’s the mortgage-interest deduction, which currently lets homeowners deduct interest paid on mortgages of up to $1 million for two houses. Ever since owning a home has been a central tenet of the American Dream since the end of World War II and the rise of suburbia, it’s been a given that deducting mortgage interest from your taxes is as American as apple pie.