Heller sees changes to mortgage interest deduction in Trump’s tax plan
By Ray Hagar, Nevada Newsmakers
Tax reform is anticipated to be the next big issue before Congress, and Sen. Dean Heller, R-Nev., should have a front row seat since he sits on the Senate Finance Committee and Senate Banking Committee.
The cherished mortgage-interest tax deduction will survive but with changes, Heller said on “Nevada Newsmakers” on Thursday.
“I’m hearing rumbling about it, but I don’t think they are talking about the average family’s deduction for mortgage interest,” Heller said. “I think they are talking about, perhaps, they may cap it (mortgage-interest deduction) at $500,000, and they may cap it on second and third homes.”