A new study shows voters overwhelmingly opposed to changes in the mortgage-interest income tax deduction — an idea that’s been widely discussed as Washington seeks to tame the national debt.
According to the survey sponsored by the National Association of Homebuilders that was released on Tuesday, 73 percent of voters oppose eliminating the mortgage-interest deduction. Broken down by party, 77 percent of Republicans, 71 percent of Democrats, and 71 percent of independents shared that belief.
In a shot across the bow of deficit-cutting members of Congress, the survey found that 68 percent of respondents would be less likely to vote for a congressional candidate who proposed abolishing the deduction. Some 69 percent of independents and 68 percent of both Democrats and Republicans shared that take.
While other surveys have found a majority of Americans favoring higher taxes on top earners, the NAHB survey shows that a majority of voters are also against proposals to reduce the mortgage-interest deduction, eliminate the deduction for interest paid for a second home, limit the deduction for those earning more than $250,000 per year, and scale back the deduction for homeowners with mortgages above $500,000.
Conducted on Jan. 2-5 on behalf of the National Association of Home Builders by the Republican polling firm Public Opinion Strategies and Democratic firm Lake Research Partners, the survey of 1,500 likely voters includes has a margin of error of plus or minus 2.5 percent.