Illinois REALTORS® passed a key benchmark in the association’s fight to protect the Mortgage Interest Deduction and other provisions in peril under a tax rewrite plan.
The association asked its members Oct. 18 to begin telling Congress that the MID was fundamental to the American Dream of homeownership. More than 20 percent of the associations members have members responded.
The U.S. House is expected to release its budget on Thursday, and the U.S. Senate will follow next week with its plan.
The CFA is still active, so if you haven’t taken part, there’s still time. Tell your representative or senator that the MID must be preserved, along with the state and local tax deduction and the 1031 Like-Kind Exchange.
