summary
Introduced
06/20/2023
06/20/2023
In Committee
06/20/2023
06/20/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to increase the income cap for and make permanent the mortgage insurance premium deduction.
AI Summary
This bill, the Middle Class Mortgage Insurance Premium Act of 2023, amends the Internal Revenue Code to increase the income cap for and make permanent the mortgage insurance premium deduction. Specifically, it raises the income limit for the deduction from $100,000 ($50,000 for married filing separately) to $200,000 ($100,000 for married filing separately). Additionally, it removes the provision that was set to expire the deduction, making it a permanent tax benefit. This change aims to provide continued tax relief for middle-class homeowners who have mortgage insurance on their homes.
Committee Categories
Budget and Finance
Sponsors (17)
Vern Buchanan (R)*,
Mike Carey (R),
Suzan DelBene (D),
Byron Donalds (R),
Ron Estes (R),
Dwight Evans (D),
Scott Fitzgerald (R),
David Kustoff (R),
Carol Miller (R),
Gwen Moore (D),
Wiley Nickel (D),
Jimmy Panetta (D),
Linda Sánchez (D),
Brad Schneider (D),
Brad Sherman (D),
Bryan Steil (R),
Claudia Tenney (R),
Last Action
Referred to the House Committee on Ways and Means. (on 06/20/2023)
Bill Topics
Community Development and Housing Issues
- ‐ Housing and Real Estate Finance
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
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/118th-congress/house-bill/4212/all-info | 06/21/2023 |
| BillText | https://www.congress.gov/118/bills/hr4212/BILLS-118hr4212ih.pdf | 07/28/2023 |
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