Yellow Star Properties

Majority are in favor of the mortgage interest deduction

For instance, 73 percent are against “eliminating the home mortgage interest deduction that homeowners can take on their tax returns.” (The poll’s margin of error is +/-2.5 percent.)
In other words, a quarter of voters are open to the idea of eliminating the mortgage tax deduction. Not just changing the deduction or lowering it, but getting rid of it entirely.
This is not just an idle idea. For instance, Kansas Governor Sam Brownback has just proposed a budget plan that would end the mortgage deduction at the state level. It will be interesting to see what Kansas lawmakers and voters think of the Republican governor’s proposal.
The NAHB poll also reveals:

• 54 percent are against “limiting the mortgage interest deduction for those earning over $250,000 per year.”
• 53 percent oppose “scaling back the mortgage interest deduction for homeowners with mortgages of $500,000 or more.”
• 52 percent are against “eliminating the deduction for interest paid for a second or vacation home.”

Given the margin of error, the poll shows that roughly half of all voters would consider limiting or ending the mortgage interest deduction for high-income households and putting an end to deductions for loans on second homes and vacation properties.