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Allowable mortgage interest not moving

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Editor: Year after year the Government has increased the standard deductions for taxpayers; it is now at $14,000. {{more}}

However, the mortgage interest allowed as a deduction still remains at $10,000 therefore any benefits that you may have derived from owning your house using the itemized deductions is slowly being eroded. I think the Government needs to move the mortgage interest in line with the standard deductions so that persons will still be encouraged to own their own home and derive some benefit.

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