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 email@example.com.
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 HeadlinesPlacer County Wines Honored with 52 AwardsPlacer County Wine Trail wines have delighted judges' taste buds again at this year's California State Fair Commercial Wine Competition.
Border Crisis and Illegal Immigration in the United StatesCongressman McClintock recently delivered the following remarks on the House floor regarding the United States Border Crisis.
Influences of Cognitive Abilities in Old Age StudyEarly life experiences, such as childhood socioeconomic status and literacy, may have greater influence on the risk of cognitive impairment late in life than such demographic characteristics
Big Check Scam Targets Roseville BusinessRoseville, CA -- Recently a Roseville business person received a large order for merchandise from an overseas destination.
Supervisors Convene at Squaw Valley for Tahoe IssuesPlacer County, CA -- Under warm and partly cloudy July Sierra Nevada skies, the Placer Board of Supervisors held a regularly scheduled two-day meeting in Squaw Valley.
Should Art be added to STEM?The Sierra College STEM Collaborative published "Exploring STEAM: Science, Technology, Engineering, Arts, and Mathematics" by Elizabeth Dayton, Ph.D. to explore the evidence in support of adding arts and innovation to the national effort to encourage STEM education and careers.
Placer County Republican Party To Hold 2014 ConventionLOOMIS - The Placer County Republican Party will hold its endorsement convention on Aug. 23 to select which candidates to support for local offices in Placer County.
Job Fair in Roseville August 22ndRoseville, CA -- Multiple community agencies including Brandman University, The City of Roseville Libraries, Placer, Sacramento and El Dorado Counties, Golden Sierra Job Training, and Sacramento Works
Roseville Crime Report Digest Update (7.23.14)The Roseville Police Department weekly crime report digest update for July 23, 2014.
California Limits Full Contact Football for StudentsGovernor Jerry Brown signed into law AB2127 which limits, but does not eliminate full contact football practices for middle and high school students.
Beware of Deceptive Home Improvement OffersThe California Contractors State License Board (CSLB) is urging consumers to be aware of home improvement offers by individuals who use unethical business practices to gain entry into their homes
Continuous Improvement Network: August 6th & 20thSierra College CACT provides Value Stream Mapping Training in Sacramento on August 6 & 20 for the Continuous Improvement Network