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Text File  |  1993-02-17  |  1KB  |  28 lines
  1. REV-05 ELIMINATE OR LIMIT DEDUCTIONS FOR MORTGAGE INTEREST
  2.  
  3.                                 Annual Added Revenues
  4.                                 (Billions of dollars)             Cumulative
  5. Addition to          -----------------------------------------    Five-Year
  6. CBO Baseline         1994     1995      1996     1997     1998     Addition
  7. ---------------------------------------------------------------------------
  8. Eliminate Deductions
  9. for Mortgage Interest 25.9     43.1      44.8     47.9     51.1      212.8
  10.  
  11. Reduce Maximum
  12. Mortgage Principal
  13. Eligible for Interest
  14. Deductions to $300,000  0.9     2.3       2.7      3.1      3.5       12.5
  15.  
  16. Limit Deductions
  17. to $12,000 per
  18. Return (Single) or
  19. $20,000 (Joint)        1.4      3.8       4.4      5.0      5.8       20.5
  20.  
  21. Limit Deductions
  22. for Second Homes       0.2      0.3       0.3      0.3      0.3        1.4
  23.  --------------------------------------------------------------------------
  24.  
  25. SOURCE:  Joint Committee on Taxation.
  26.  
  27. ---------------------------------------------------------------------------
  28.