Good news for buyers and current homeowners as well! House Ways and Means Committee Chairman Dave Camp, (R-MI), will push this month to make permanent a tax break for PMI, although leadership in the Senate has declared any movement on tax reform bills stalled until after the November elections. More than six months after a series of tax incentives, including some mortgage-related measures, expired due to Congressional inaction, partisan sniping and a distinct difference in the legislative approaches of House and Senate tax-writing chairmen have contributed to uncertainty within the industry. When Congress returns from its Independence Day break next week, one of the measures Camp will consider is a bill filed by Reps. Devin Nunes, R-CA, and Joseph Crowley, D-NY. H.R. 4845 would amend the Internal Revenue Code to make MI premiums permanently deductible . For more on the story, see this weeks issue of Inside Mortgage Finance. insidemortgagefinance/issues/imfpubs_imf/?ET=imfpubs:e4806:9981a:&st=email
Posted on: Mon, 07 Jul 2014 01:05:56 +0000
Trending Topics
Recently Viewed Topics
© 2015