The Resource The distributional and revenue consequences of reforming the mortgage interest deduction

The distributional and revenue consequences of reforming the mortgage interest deduction

Label
The distributional and revenue consequences of reforming the mortgage interest deduction
Title
The distributional and revenue consequences of reforming the mortgage interest deduction
Creator
Subject
Language
eng
Summary
The mortgage interest deduction (MID) is costly, and half the benefits accrue to the top 10 percent of taxpayers. This paper analyses how five modifications to the MID would affect federal individual income tax revenue and the distribution of the tax burden. Under full repeal, federal individual income tax revenue is estimated to increase by up to $1.3 trillion, equal to 0.7 percent of GDP, between 2012 and 2021. Converting the deduction to a 15 percent non-refundable credit could increase federal individual income tax revenue by up to $599 billion, equal to 0.3 percent of GDP, over this period
Citation source
In: National tax journal. - Washington. - Vol. 64 (2011),
http://library.link/vocab/creatorName
  • Cole, A.J
  • Gee, G
  • Turner, N
Geographic coverage
North America
Language note
English
http://library.link/vocab/subjectName
  • mortgage
  • interest deduction
  • tax reform
Label
The distributional and revenue consequences of reforming the mortgage interest deduction
Instantiates
Publication
Label
The distributional and revenue consequences of reforming the mortgage interest deduction
Publication

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