| Past Issues | Advertise | March 22, 2011 |
NAHB Needs Your Help: Congressional Resolution Seeks to Protect MID
A Resolution has been introduced in the House of Representatives, expressing a "sense of Congress that the current federal income tax deduction for interest paid on debt secured by a first or second home should not be further restricted." H. Res. 25, introduced by Rep. Gary Miller (R-Calif.), currently has more than 40 co-sponsors in the House.
See the complete H. Res. 25 resolution here.
At a time when essential housing tax incentives including the mortgage interest deduction (MID) are in the crosshairs of lawmakers who are looking for ways to reduce the federal budget deficit, this Resolution is an important symbolic gesture that shows its co-sponsors are aware of the critical role that the MID plays in supporting homeownership in this country.
NAHB is asking HBAs to encourage members and consumers to tell their Representative to cosponsor H. Res. 25 by calling the U.S. Capitol switchboard at 202-224-3121.
At the same time, please also encourage members and your community to support the MID by signing up on the NAHB website SaveMyMortgageInterestDeduction.com or on Facebook.com/SavemyMID or Twitter.com/SavemyMID. Additional information to help you understand the threat to the MID and educate your members and community is available at www.nahb.org/midresources.
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