Is the Government Doing Enough on Housing?

More than two-thirds of Americans oppose repealing the mortgage interest tax deduction to cut the deficit.

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Almost 70% of voters surveyed recently believe the home mortgage interest tax deduction shouldn’t be repealed as a way to cut the massive federal deficit, according to a national voter survey sponsored by the American Institute of Architects.

Tax incentives infographic

The survey also found that a solid majority of voters — 71% — favor extending the tax incentive for making houses and commercial buildings more energy efficient. Majorities of Democrats (88%), Independents (69%), and Republicans (57%) favor the extension.

“These findings affirm strong support by Americans for the mortgage interest deduction — one of the most popular paths to owning a home,” said AIA President Jeff Potter.

“The poll also underscores heavy bipartisan support of continued tax incentives for energy efficiency. Both of these issues are expected to figure prominently in post-election Congressional tax battles.”

Other findings include:

* 64% of voters think the government should now spend additional money making public buildings more energy efficient, provided the upfront cost could be paid for in lower utility bills over the next decade.

Home sales losses infographic

* 70% of voters surveyed think federal income tax laws should be changed to allow home owners to deduct losses when they sell a home for less than they paid for it. Support for this proposal is strong across the board.

* Few voters are positive about the way the federal government is handling issues such as protecting home values (only 18% say excellent or good) or assisting homebuyers secure mortgages (only 24% say excellent or good).

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