Mortgage Tax Deduction on the List of Renovations in the White House

Mortgage Tax Deduction on the List of Renovations in the White House

For more than a century, tax laws have allowed homeowners to deduct the interest paid on their home from their income taxes. President-elect Donald Trump is looking to change the way this law works. “We’ll cap the mortgage interest, but we’ll allow some deductibility,” Steve Mnuchin, the newly nominated Secretary of Treasury said to CNBC. [...]