Washington Weighs Trimming Mortgage Interest Tax Deduction

Members of the commission created by President Obama to shrink the federal budget deficit published a proposal this week that would significantly scale back the mortgage interest tax deduction.

The co-chairs of the National Commission on Fiscal Responsibility and Reform, Alan Simpson, a former Republican senator from Wyoming, and Erskine Bowles, who served as chief of staff under President Clinton, have outlined several recommendations.

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