mortgage interest deduction cut

Mortgage interest tax deduction cut criticized:

The San Francisco Chronicle. “President Obama has grabbed what the real estate industry considers the third rail of tax reform: mortgage-interest deductions. Among the many tax increases on the affluent laid out in his budget proposal Thursday was a plan to reduce the itemized deduction rate for families with incomes over $250,000 to 28 percent, down from 33 or 35 percent. The National Association of Realtors quickly responded with a strongly worded letter to the president, arguing the change could "trigger yet another crisis in home values"