Monday, December 05, 2005

Housing Tax Survey

On a recent survey, given a choice of simplifying federal tax laws or retaining the current tax incentives, Americans resoundingly prefer the latter according to nationwide survey of adults.

Two out of three survey participants (68%) favor retaining deductions for mortgage interest, state and local taxes over a plan to simplify the current tax code, according to the survey conducted by RT Strategies on November 17-20, 2005.

As a Real Estate Broker I hope this is a wake up call for Capitol Hill and the President's Advisory Panel on Reform, which has indicated a propopsal to wipe out the popular tax incentive that has promoted homeownership.