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Save the Mortgage Interest Deduction!

Attention HBADE Members:

The State legislators continue to try to balance their budget on the backs of homeowners and the housing industry rather than cut spending.

Last week they proposed (HB 240) to eliminate all itemized tax deductions and replace it with a slightly higher standard deduction.  Then Wednesday night they released an amendment to the bill (HA 1 to HB 240) which is probably worse – to take away the increased standard deduction that they just proposed and to allow half of your itemized deductions. So your itemized deductions are devalued and could still cause a tax increase since many of the income tax rates are proposed to be increased as well.

We remain opposed to any change in the treatment of itemized tax deductions – leave the mortgage interest deduction alone!  Click on this link  for the full page ad we are running in newspapers today and tomorrow across the State.

The Legislature is supposed to solve this budget mess by Friday night June 30th. It’s not too late for you to reach out to them, here is what you can do:

  1. Call your legislator at 302-744-4114 and express your opposition to the bill and amendment.  Or, email them, Click here to Find My Legislator
  2. We have posted this on Home Builders Association of Delaware’s Facebook page. Like it and share it there.
  3. Join us at Legislative Hall tomorrow night– email info@hbade.org for details.

Thank you for your support and help. Together we can protect homeownership for the benefit of all homeowners in Delaware as well as the housing industry!

About HBA of Delaware

HBA/DE has been an integral part of the growth and economic development of the State of Delaware since 1947. HBA/DE was founded as a non-profit state affiliate of the National Association of Home Builders (NAHB) representing home builders and other businesses directly related to Delaware's Home Building Industry. Consisting of Builders, Remodelers and a group of diversified associate members, the Home Builders Association of Delaware strives to protect and preserve housing as a symbol of America. www.hbade.org

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