House Passes Bill Hiking Taxes for Many Home Owners

[Alexander Sergov]

Congressional tax reform bills. Today, the House passed a bill that would reduce the value of the mortgage interest deduction, eliminate the deduction for state and local taxes, and cap the property tax deduction — increasing taxes for many homeowners. Next: A possible Senate vote. Any thoughts on this?

[Sam Shueh]

It makes rich people to take less tax deduction esp in east and west coast. The impact is close to not measurable of home ownership.

The average income families will benefit somewhat.  It is about time