The National Commission on Fiscal Responsibility and Reform did not go far enough when it proposed the repeal of certain provisions of the mortgage interest deduction. The deduction for mortgage interest should be repealed in its entirety.
This week, co-chairs Erskine Bowles and Alan Simpson issued their joint proposal for consideration by the full National Commission on Fiscal Responsibility and Reform. Their joint proposal represents a commendable, comprehensive, aggressive and good faith effort to address our nation's structural deficit. It recognizes the need for economic recovery now while addressing the structural deficits that represent the real threat to our collective future.