Do I get this right? If people make over $250,000 they will not be able to claim payments on their home as a mortgage deduction?? Thats crazy. Insane.
No, they will still be able to claim mortgage payments as a deduction. I believe it will be a limit on how much they could claim and I think there’s something about a limit on how much they could claim on a second or vacation home.
Of course. We don't want to encourage the wealthy to buy homes we want to give to deadbeats and illegals.