The tax reform conversation kicked off with a bang this morning as President Trump prepares to unveil proposals that could have a significant effect on the way that American families and businesses file their taxes.
At issue: a big hike for the standard deduction. What does that do to the mortgage interest deduction – and more importantly, would it take away an important incentive to home ownership?
On The Today Show this morning, anchor Savannah Guthrie posed that question to Jim Cramer. “Would that fly?” she asked the host of the popular “Mad Money” host.
He shook his head. “The home builders are not gonna let that happen. They are a very powerful lobby,” Cramer said.
Indeed, NAHB is ramping up its discussions with federal policymakers and elected officials to protect this important tool. Read more about the importance of the mortgage interest deduction, and stay tuned as the debate continues.