summary
Introduced
02/07/2022
02/07/2022
In Committee
02/07/2022
02/07/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to increase the income cap with respect to the mortgage insurance premium deduction, and to make such deduction perma- nent.
AI Summary
This bill aims to amend the Internal Revenue Code of 1986 to increase the income cap for the mortgage insurance premium deduction and make the deduction permanent. Specifically, the bill raises the income cap from $100,000 ($50,000 if married filing separately) to $200,000 ($100,000 if married filing separately), and removes the provision that would have ended the deduction after 2021. This change allows more middle-class homeowners to claim this tax deduction, which can help offset the cost of mortgage insurance premiums.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Read twice and referred to the Committee on Finance. (on 02/07/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/3590/all-info | 02/08/2022 |
| BillText | https://www.congress.gov/117/bills/s3590/BILLS-117s3590is.pdf | 02/13/2022 |
| Bill | https://www.congress.gov/117/bills/s3590/BILLS-117s3590is.pdf.pdf | 02/13/2022 |
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