Bill > HR1384

This bill, the Middle Class Mortgage Insurance Premium Act of 2021, aims to amend the Internal Revenue Code of 1986 to increase the income cap and make permanent the mortgage insurance premium deduction. Specifically, it would raise the income cap 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 expiration date for this deduction, making it a permanent part of the tax code. These changes are intended to provide continued tax relief for middle-class homeowners who pay mortgage insurance premiums.