Bill > HR6109

This bill, the Middle Class Mortgage Insurance Premium Act of 2021, aims to amend the Internal Revenue Code to increase the income cap for the mortgage insurance premium deduction and make the deduction permanent. Specifically, the bill would raise the income threshold for the deduction from $100,000 ($50,000 for married filing separately) to $200,000 ($100,000 for married filing separately). Additionally, it would remove the current provision that was set to expire the deduction after 2021, effectively making the deduction permanent. These changes are intended to benefit middle-class homeowners by allowing them to continue to deduct their mortgage insurance premiums on their tax returns.