Mortgage

Isakson confirms mortgage interest deduction is ‘on the table’

NAR ally thinks most politically viable solution may be a cap on deductions

ATLANTA -- U.S. Sen. Johnny Isakson, a longtime ally of the real estate industry, confirms that the mortgage interest deduction is "on the table" in tax reform discussions. "It's got to be on the table like everything else," Isakson told a group of real estate journalists Friday. "It has to be evaluated on a cost-benefit analysis." Isakson told attendees of the National Association of Real Estate Editors (NAREE) annual conference that if a tax deduction "costs the government more money than it benefits the government, it's got to go away." The Georgia Republican is one of a number of incumbents who have received strong backing from the National Association of Realtors' political action committee, RPAC. RPAC made $377,353 in independent expenditures on Isakson's behalf during his successful 2010 re-election bid. He is a former real estate broker and serves on four Senate committees with jurisdiction over education, federal spending, health care, taxes and veterans' affa...

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