Well, DO, the mortgage interest tax deduction is meant to encourage home ownership by making it a tad more affordable.
What is the purpose of reducing taxable income to the IRS by subtracting state income tax? Is it to encourage states that are already high tax to become even more so because Uncle Sam will make up the difference?
These are both forms of tax relief.
Right now we are trying to get tax cuts for the public, realizing this will expand government tax receipts.
Doesn’t cutting taxes for people in states that have an income tax, also free up money to help expand government tax receipts?
Yes, I do believe that tax cuts do help to increase home ownership, and home owners do spend a lot of money for upkeep and home improvements, sparking local economies.
I’m not sure that justifies one tax cut and undercuts another.
If we want more money in the private sector, all tax cuts are reasoned.