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Opposition Against Tax Overhaul Mounting on Capitol Hill
As the Administration weighs a proposal by its advisory tax reform panel to abolish mortgage interest and state and local tax deductions and replace them with a much more limited 15% housing credit, members of Congress from both sides of the political aisle are starting to voice strong opposition to the plan, and concerned citizens are being encouraged to follow suit.
Last week, eight Republican members of the tax-writing House Ways and Means Committee sent a letter to Treasury Secretary John Snow urging the White House to “preserve some important incentives for homeownership investment that clearly work.” (To read the letter, click here.)
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