The federal income tax code is riddled with loopholes, deductions, and credits designed to promote various social goals and benefit assorted groups of Americans. One of the largest of these is the mortgage interest deduction, which allowed taxpayers to claim benefits of $82.7 billion in 2010, the latest data available. Anthony Randazzo and Dean Stansel explore who would lose out on this subsidy if the mortgage interest deduction were to be phased out.
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