Bookmark this:
Create a mortgage interest tax credit for non-itemizers
Create a refundable tax credit equal to 10 percent of mortgage interest for nonitemizers, up to a maximum credit of $800.
Sources: Obama campaign interviews with the Tax Policy Center
Create a mortgage interest tax credit for non-itemizers
Updated: Monday, December 28th, 2009 | By Angie Drobnic Holan
We scoured President Barack Obama's tax proposals thus far, as well as the tax measures in the economic stimulus package, but we came up empty when looking for a new mortgage interest tax credit for non-itemizers.
In fact, the latest tax guidance from the Internal Revenue Service states that tax filers still must itemize to get a deduction for home mortgage interest.
We should add there are a number of tax issues Obama and Congress will likely address in 2010, and this may yet get proposed. But right now, we can't find any action on this promise, so we rate it Stalled.
Sources: Internal Revenue Service, Home Mortgage Interest Deduction , Dec. 17, 200 Thomas, The American Recovery and Reinvestment Act , accessed Dec. 21, 2009
We want to hear your suggestions and comments. For tips or comments on our campaign promise database, please e-mail the Obameter. If you are commenting on a specific promise, please include the promise number. For comments about our Truth-O-Meter or Flip-O-Meter items, please e-mail the Truth-O-Meter. We’re especially interested in seeing any chain e-mails you receive that you would like us to check out. If you send us a comment, we'll assume you don't mind us publishing it unless you tell us otherwise.
Keep up to date with Politifact:
- Sign up for our e-mail (about once a week)
- Put a free PolitiFact widget on your blog or Web page
- Subscribe to our RSS feeds
- Follow us on Twitter
- Fan us on Facebook
