Call for Action: Do No Harm to Housing
If you have not yet done so, please take a moment to respond to the latest NAR Legislative Call-for-Action (CFA) urging Congress to leave the Mortgage Interest Deduction (MID) alone.
Tax reform, including modification of the MID, is being closely looked at as one solution to address the Fiscal Cliff and as a long-term solution to balance the federal deficit. Changes to the mortgage interest deduction would threaten the current housing recovery by reducing opportunities for future home buyers, increasing the cost of home ownership, and impacting your business’ bottom-line.
Despite the potential impact on the housing industry, just 14.6% of GBAR members have joined this Call-for-Action. Please look for an e-mail that you should have received on December 3 and respond, or log into the REALTOR® Action Center today to participate in this important CFA. Doing so will send a message to the Bay State Congressional delegation that preservation of the MID in its present form is necessary to keep the U.S. economy on the right track. To better understand the tax increases and spending cuts which are subject to this deadline, NAR has created this video with Chief Economist Laurence Yun and Economist Danielle Hale. Please also forward this on and encourage your colleagues to understand and participate in this CFA.