By Ray Hagar, Nevada Newsmakers
Tax reform is anticipated to be the next big issue before Congress, and Sen. Dean Heller, R-Nev., should have a front row seat since he sits on the Senate Finance Committee and Senate Banking Committee.
The cherished mortgage-interest tax deduction will survive but with changes, Heller said on “Nevada Newsmakers” on Thursday.
“I’m hearing rumbling about it, but I don’t think they are talking about the average family’s deduction for mortgage interest,” Heller said. “I think they are talking about, perhaps, they may cap it (mortgage-interest deduction) at $500,000, and they may cap it on second and third homes.”