Bill to Modify Mortgage Interest Deduction and Fund NHTF Gains Congressional Support

Representative Jim McDermott (D-WA) signed on to co-sponsor to the Common Sense Housing Investment Act (H.R. 1213) on May 7. Mr. McDermott, who is a senior member of the House Committee on Ways and Means, is the sixth Representative to co-sponsor the bill.    H.R. 1213, introduced by Representative Keith Ellison (D-MN), would modify the mortgage interest deduction (MID) in a manner consistent with the United for Homes campaign proposal. The bill would apply the majority of the revenue raised through the changes to the MID to the National Housing Trust Fund (NHTF) (see Memo, 3/15). United for Homes encourages advocates to let their Members of Congress know that they support the campaign proposal to fund the NHTF through modifications to the MID, and to urge their Representatives to co-sponsor H.R. 1213. Learn more about United for Homes at www.unitedforhomes.org.