Trump administration weighs slashing mortgage deduction

A tax break popular with homeowners and the real estate industry could take a hit as Republicans look for ways to pay for their tax reform plan. Despite promises from the Trump administration in April that it would “protect the homeownership … deductions,” multiple sources tracking tax reform said that the cap on the mortgage interest deduction — currently set at the interest on up to $1 million of mortgage debt — could be lowered in tax reform.
Read more: http://www.politico.com/story/2017/08/04/trump-homeowner-tax-benefit-241328?source=Snapzu