Ryan loses key ally on tax reform after switch on breaks for homeowners

[applegrove]

By Lorraine Woellert at Politico

https://www.politico.com/story/2017/10/28/home-builders-gop-tax-plan-244272

"SNIP.......


The National Association of Home Builders on Saturday accused House Speaker Paul Ryan of abruptly reversing course on a mortgage tax credit proposal and announced it would oppose the tax-reform proposal that GOP lawmakers expect to unveil on Wednesday.

The about-face by the housing-industry lobbying group strips Republicans of a powerful ally. Tax breaks for homeowners have long been one of the flashpoints of any attempt to rewrite the nation's tax laws.

"All the resources we were going to put into supporting are now going to go into opposing the plan," NAHB Chief Executive Officer Jerry Howard told POLITICO.

Home builders and other groups had been working with Ways and Means Chairman Kevin Brady (R-Tex.) on a plan to preserve tax breaks for homeowners. House Republicans have been planning to weaken the deduction that home mortgage borrowers currently get for the interest they pay on their mortgages by raising the standard deduction, leading much of the housing lobby to line up against the plan.


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[democratisphere]

1. redumbliCONs tax reform must be exposed for what it really is.

It must go down to defeat.