The improving economy, combined with recent tax increases and government spending cuts, is “tantamount to a loosening of the proverbial noose around the necks of Washington lawmakers,”  as the official May 19 debt ceiling deadline approaches, writes Abby D. Phillip. The Treasury Department — which is also expecting a $66.4 billion repayment from Fannie Mae and Freddie Mac —  could “employ some financial jujitsu” that could push the debt ceiling deadline back to as late as this fall, she says. With the deficit getting smaller already, Phillip thinks Republicans who are pushing for tax or entitlement reforms and spending cuts “may hit a wall when it comes to how much they can extract from Democrats.” Proposals to reform the tax code could include a revamp of a tax break near and dear to the hearts of Realtors and mortgage lenders alike — the mortgage interest deduction. Source: abcnews.go.com.

Back to top
We are less than 1 week away from Inman Connect! Get your ticket for $99 before prices go up next week.GET YOUR TICKET×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription