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.
- 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
- We have posted this on Home Builders Association of Delaware’s Facebook page. Like it and share it there.
- Join us at Legislative Hall tomorrow night– email firstname.lastname@example.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!