A draft of the Republican Party platform will not call for preserving the popular tax deduction for home mortgage interest, a shift from four years ago, Bloomberg reported.
The vote by the drafting committee was a close one, The Wall Street Journal reports. An amendment that was rejected would have read “We must preserve the mortgage interest deduction.” Opponents such as Missouri Sen. Jim Talent said the provision would make tax reform more difficult.
In 2008, the party’s platform said that, “because affordable housing is in the national interest, any simplified tax system should continue to encourage home ownership, recognizing the tremendous social value that the home mortgage interest deduction has had for decades.” The current draft contains no such language regarding the deduction.
In April, Romney was overheard at a fundraiser saying that he would consider eliminating the mortgage deduction for those who own a second home, but the campaign said he was just trying out ideas and that it was not a firm plan.
The platform will be put forward for approval during next week's Republican National Convention in Tampa, Fla.