Will the ‘Mortgage Interest Deduction’ Question Get Asked?

This Thursday President Obama squares off against his Republican challenger Mitt Romney for a second debate. It would be nice if the moderator asks the candidates if they favor keeping the tax deduction for mortgage interest and if the answer is yes – what will the cap be? Presently it’s $1 million per household but Republicans, historically, don’t tend to be ‘friends’ of housing. Then again, liberal Democrats might argue that neither is this president. Meanwhile, Fannie Mae and Freddie Mac report third quarter earnings next month and chances are both will post solid numbers – but the cash (of course) will wind up in the coffers of the U.S. Treasury. As for the future of the GSEs, that issue is wide open.

Comments (3)

Doesn't matter because if Romney is asked he will say what he thinks the audience wants to hear. I am so disappointed in his game playing with important topics such as this. Someone should give him some truth serum before the "show";could be interesting to know what he really thinks. Bottom line the mortgage deduction may be the only way Romney can make his tax reduction and expenses program work. The money has to come from somewhere and it will not be from rapid growth economic growth or the 1%. Didn't Biden say something like "use your brains"?

Posted by DAG | Monday, October 15 2012 at 1:13PM ET

Dag, I prefer he does not commit at this time. Who knows what the actuals are awaiting his presidency and do we want another President to make false promises he CANNOT deliver. No thank you, I've had 4 years of that.

Posted by ALAFAIR | Monday, October 15 2012 at 1:23PM ET