Industry News

Home builder group finds support for real estate tax deduction

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Given a choice of simplifying federal tax laws or retaining current housing incentives, Americans prefer to retain current housing incentives over changing federal tax laws, according to a survey conducted for the National Association of Home Builders. The survey of 1,001 adults found that about 68 percent of participants "favor retaining deductions for mortgage interest and state and local taxes over a plan to simplify the current tax code," the home builders' group reported. The survey was conducted by RT Strategies from Nov. 17-20. "The survey offers a cautionary note for those in the administration and on Capitol Hill who may be tempted to endorse the recommendations of the President's Advisory Panel on Federal Tax Reform, which would wipe out popular tax incentives that promote home ownership and affordable housing," said Jerry Howard, executive vice president and CEO of the National Association of Home Builders. The White House and Treasury Department have yet to comment on th...