To amend the Internal Revenue Code of 1986 to allow the deduction for interest on acquisition indebtedness on principal residences to all individuals, whether or not they itemize their other deductions.
About This Bill
Committee
Latest Action · September 20, 2007
Referred to the House Committee on Ways and Means.
Amends the Internal Revenue Code to allow an individual taxpayer to deduct from gross income interest incurred to acquire, construct, improve, or refinance a principal residence, whether or not such taxpayer itemizes other income tax deductions.
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