WASHINGTON, D.C. – August 22, 2012 – (RealEstateRama) — The National Association of Home Builders (NAHB) today applauded the GOP Platform Drafting Committee for recognizing the importance of the mortgage interest deduction within its proposed platform.
“We are very pleased that the committee has recognized the crucial importance of the mortgage interest deduction,” said NAHB Chief Executive Officer Jerry Howard. “At a time when so many are struggling to recover from the recession, this action helps cement much-needed political support for a tax break that primarily benefits middle-income families.”
Including the mortgage interest deduction in the draft GOP platform also makes sense because of the broad support that the incentive enjoys among voters across the country, added Howard. An NAHB-commissioned poll this January found that 77 percent of Republicans, 71 percent of Independents and 71 percent of Democrats oppose eliminating this important tax break.
“Middle-class voters have seen their household wealth decline throughout the recession, and to a large extent they are the ones who will decide the outcome of this election,” noted Howard. “They are also the prime beneficiaries of the mortgage interest deduction. With this in mind, it seems obvious that maintaining this cornerstone of American housing policy should be among lawmakers’ primary goals.”