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Tax break

A tax break to encourage homeownership primarily helps the wealthy

by Kimberly Adams
Jun 3, 2024
Economists argue the home mortgage interest deduction doesn't really work and costs the federal government tens of billions of dollars a year.
To be eligible for the home mortgage interest deduction, a buyer would have to be among the 11% of taxpayers who itemize their returns. Above, a home for sale in Damascus, Maryland.
Kimberly Adams/ Marketplace
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National Debt

Tax breaks are popular. They also cost the federal government more than $1 trillion a year.

by Kimberly Adams
May 24, 2024
In the debate over the debt and deficit, experts say tax breaks that skew toward the wealthy deserve as close a look as government spending.
“The IRS has basically been turned into not just a revenue-collection agency, but also basically a welfare agency having to give people goodies and tax breaks for all sorts of different things that they do," economist Gerald Prante says.
Michael Bocchieri/Getty Images
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Final Note

Senators' tax break ideas top secret for 50 years

by Kai Ryssdal
Jul 25, 2013
Recommendations from senators to the Finance Committee as to which tax breaks they favor and which they oppose will be kept secret.
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Lobbyists gearing up for fight over tax breaks

by Nancy Marshall-Genzer
Mar 26, 2013
As Washington eyes deficit reduction, cherished tax breaks are in the crosshairs.
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