Midyear kicked off this morning with a forum on real estate issues in the 113th Congress. We had the pleasure of listening to Jeffrey Birnbaum, a commentator and analyst, and Congressman Randy Neugebauer from the 19th Congressional District of Texas.
Mr. Birnbaum got the crowd going with his comment, “Congress does TWO things; nothing and overreact.” Following a discussion of the challenges most presidents face in their second term, he recapped some facing President Obama right now. The budget deficit was front and center of course. Which raises the issue of bridging that gap and the solution that many seem to throw around in DC is the Mortgage Interest Deduction (MID).
Birnbaum made the point that if Congress does the later, overreact that is, “You don’t want to be caught flat footed when they do!”
Thankfully NAR has been vigilant in their efforts to defend MID again this year. To learn more about the MID issue visit Mortgage Interest Deduction on REALTOR.org . MID will once again be a talking point at this year’s hill visits. You can download the talking point at Preserve Homeownership Tax Policies.