Deduction of Interest on Home Mortgage on the Chopping Block?

[Bryan Hancock]

I have seen several articles claiming that the deductibility of interest for your primary residence is on the chopping block to close our budget gap.

Does anyone know what is happening with this? Who is pushing this change?

[Brian Levredge]

I may catch some heat for this but I'd like to see it go by the wayside. I'm more of a free market guy and there is nothing free market about tax incentives that artificially push up the price of housing and induce people to take on massive amounts of debt. The same holds true for loan guarantees like FHA whereby buyers don't have any real skin in the game.