Phasing Out Mortgage Interest Deduction Could Boost Revenues by $215 Billion Over 10 Years, CBO Says

摘要

The federal government could increase tax revenues by over $200 billion through 2021 by phasing out the mortgage interest deduction, according to a Congressional Budget Office (CBO) report on options for reducing the deficit. The report outlines a number of spending and revenue measures which could help cut the deficit, though it makes no recommendations. Unlike previous CBO reports, the current version doesn't mention the low-income housing tax credit. On the spending side, options include increasing tenant payments in subsidized housing and eliminating wealthier communities from the community development block grant program.