President Obama Weighs in on Mortgage Interest Deduction

What are your thoughts?

Audra McMahon

President Barack Obama waded into the issue Monday of whether or not the mortgage-interest deduction should be on the table during negotiations to avoid a series of automatic tax increases and spending cuts that would take effect in the beginning of January.

Mr. Obama held to his long-held position that taxes should rise on those with higher incomes in order to avoid clipping deductions for middle class families during a Twitter town hall session on Monday.

The president responded to a question on Twitter from someone who wrote, “As a homeowner, I worry deductions for homeowners are at risk. Is that the case?”

Mr. Obama’s response: “Breaks for middle class [important] for families & econ. If top rates don’t go up, danger that middle class deductions get hit.”

During each year that he has been president, Mr. Obama has proposed clipping the mortgage interest deduction for taxpayers in the top…

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