Mortgage Interest Deduction
So far Congress and the President have failed to reach an agreement on the "fiscal cliff" discussion, which includes proposals to reduce or limit the mortgage interest deduction. These proposals have made direct references to closing loopholes and limiting deductions as a way to raise revenues. Clearly, the mortgage interest deduction is high on the list of revenue raisers.
Losing the Mortgage interest deduction will disproportionately affect the middle class because a larger proportion of the middle class takes the deduction. In California 89% of those who took the mortgage interest deduction earned less than $200,000. Losing the deduction would cost the average California taxpayer over $3,900 and potentially stall the housing recovery.
What you can do to help:
Call Congress or write directly to your representatives and urge them to preserve the mortgage interest deduction. You can reach Congress by calling 202-224-3121. The Capital switchboard operator will help you indentify your members of Congress and connect you to their offices. The switchboard is open Monday-Friday from 9 AM to 6 PM, Eastern Time.
President Obama said, tax breaks benefiting middle class families such as the mortgage interest deduction could be at risk if rates for top earners do not rise.
Many people seem to be unaware their mortgage deduction is in danger. Please consider passing this article on to family and friends or posting it on your Facebook page. For more information, you can go to the following webpage: www.KeepTheMID.com.
Please let me know if you have any questions about the importance of the mortgage interest deduction to middle class families and the continued recovery of the housing market. I can be reached at the MagnumOne Realty office in Roseville at 916-899-6571 or by email at firstname.lastname@example.org.
Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.
Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento
Placer County News HeadlinesImmigration Executive Action: Republicans and DemocratsAnother stark contrast of opposing sides on Obama's Executive Action on Immigration, highlighted by two Republican Congressman Tom McClintock's remarks and the California Democratic Party
PCWA Moves Forward on Watershed RemediationIn the aftermath of the massive King Fire, the Placer County Water Agency is taking emergency steps to prevent and manage the runoff of fire debris and erosion into the
Holiday Flu Could Be Grinch This YearWith Thanksgiving nearing and the holiday season upon us, many people will be hitting the malls for shopping, the airways for travel, and interacting with large groups of people
Placer County Honors Citizens with Commemorative CoinsThe Placer County Board of Supervisors honored Dr. Bryce Jessup of William Jessup University and volunteer extraordinaire Fuzzy Jarnagin of Loomis Tuesday, presenting them with
Rain or Shine: Mountain Mandarin Festival Is OnFree admission offered for Festival goers with orange umbrellas! Mountain Mandarin Festival Is On.
92% of Americans Traveling for ThanksgivingSurvey Says: 92% of Americans Traveling for Thanksgiving Plan to Drive; 71% Expect to Spend Less This Year
Thanksgiving Travel Advisory: Sacramento International AirportPassenger traffic is expected to rise this year for travelers going through Sacramento International Airport. A few tips to improve your travel experience
Rocklin Crime Report Update (11-20-14)Rocklin, CA - Rocklin California Crime Report Update for November 20, 2014.
65,000 Injuries a Year to U.S. FirefightersThe National Fire Protection Association (NFPA) released the latest edition of its U.S. Firefighter Injury Report which highlights data on injuries sustained by firefighters on duty.
Grant Targets Impaired DriversThe California Highway Patrol (CHP) recently announced receiving a federal "Reducing Impaired Driving" grant, which will fund 150 sobriety checkpoints
KidsFirst Denim & Diamonds Appreciation EventCelebrating two weeks before the rest of the United States, KidsFirst, Child Abuse Prevention Council of Placer County, spent Thursday, November 13th in Thanksgiving mode
Placer County's Most Wanted: Johnnie Castro44 year old, Johnnie Castro, last known address of Roseville, CA, is currently being sought by authorities for Failure to register residence