Since the introduction of federal income taxes in 1913, there have been federal tax incentives in place to promote homeownership. Now, to help ease the federal budget deficit, Congress is toying around with the idea of eliminating the mortgage interest deduction. However, according to a nationwide survey of likely voters commissioned by NAHB and conducted by Public Opinion Strategies, voters are saying NO.
Public Opinion Strategies conducted the survey from Sept. 9 to Sept. 12 to determine the importance of homeownership and to decipher the public’s opinion toward the mortgage interest deduction. The poll found:
- Among both homeowners and renters, 79 percent of respondents believe the federal government should provide tax incentives to encourage homeownersip.
- 82 percent of renters support the mortgage interest deduction.
- Support for the mortgage interest deduction spans across partisan lines: 76 percent of Republicans, 75 percent of Independents and 64 percent of Democrats oppose the elimination of the deduction.
- 70 percent of voters are less likely to vote for candidates for Congress who propose to eliminate the home mortgage interest deduction.
- 3 percent of voters are less likely to vote for a candidate who supports reducing the home mortgage interest deduction.
Where do you stand? For more information about what NAHB found in its survey, visit the website. For more information about Public Opinion Strategies, visit the website.