The Republican proposal to cap mortgage interest tax deductionsat $500,000 in principal is three times more likely to hurthomeowners in Democratic-leaning counties than in counties wheremore voted for Donald Trump, according to an analysis of data fromATTOM Data Solutions and others.
Republicans unveiled their tax bill last week. Its call for areduction in the home mortgage interest deduction brought immediatecriticism from home builders and others. The House Ways and Means Committee beginsconsidering amendments this week.
ATTOM Data Solutions of Los Angeles counted the number ofmortgages exceeding the $500,000 cap in 2,294 of the nation's 3,141counties. ATTOM found 325,286 originations so far this year forthese large mortgages, or 5.4% of the 6.1 million total.
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