[quote=MadeInTaiwan]
As a side note while I benefit from the mortage interest deduction, I still feel that it is one of the worst regressive taxes. Mortgage interest deduction should be capped based on an area’s (state/city) medium household income.[/quote]
Currently the cap is interest on debt up to $1 Million. Perhaps capping it at local confoming or FHA limits makes sense.
Or (more likely) they can leave the cap at $1 Million and much like the AMT, let inflation handle the problem.
