Barack Obama and Joe Biden's Campaign Promise

Urban Policy

Housing



Lower People's Interest Payments by Creating a New Mortgage Interest Tax Credit:

Average 1.0 (1 votes)



    Many middle class Americans do not receive the existing mortgage interest tax deduction because they do not itemize their taxes. Obama and Biden will ensure that middle-class Americans get the financial assistance they need to purchase or keep their own home by creating a 10 percent universal mortgage credit that gives tax relief to 10 million Americans who have a home mortgage.