To understand the Mortgage Interest Deduction Call For Action, you must first understand the bigger issue at hand – the fiscal cliff.
The “fiscal cliff” is on the minds of politicians and citizens everywhere right now – it’s what will happen on December 31, 2012 when several laws including temporary payroll tax cuts, certain tax breaks for businesses, and changes in the alternative minimum tax will take place and the taxes related to Obama’s health care law begin. Also, spending cuts decided on in 2011 will begin to go into effect. In total, over 1,000 government programs will experience deep cuts (Barrons, 2012).
One of the programs affected by these cuts is the mortgage interest deduction – specifically, eliminating the deduction for 2nd homes or lowering the overall amount of mortgage interest deductions someone could claim. The government, specifically President Obama and Congressional Republicans, have referred to programs such as these as “loopholes” that need to be closed in order to raise revenues.
The bottom line is this: The amount of money that you may be able to deduct for your mortgage interest may be reduced after a ruling is made on this issue.
What Can You Do To Voice Your Opinion About The Mortgage Interest Deduction?
Call Congress. Get involved by calling Congress to ask that the mortgage interest deduction be preserved.
You can reach Congress and find out who your representative is by calling 202-224-3121 Monday-Friday from 9:00 am – 6:00 pm, Eastern time.
5 Ways To Get the word out. Tell your friends and family that their mortgage interest deduction is in danger.
- Forward this message to your family and friends
- Post this information on your personal and office websites and blogs
- Share this information on Facebook and urge others to share it as well
- Tweet about it on Twitter and urge others to retweet. Use the hashtag: #savethemid
- Link to the following web page: KEEP MY MID. This site has information about contacting Congress, more information on the MID and links to articles.
If we can be of any assistance, please don’t hesitate to call the SoCalLife team at 949-246-2078