Mortgage-interest deduction on the table as fiscal cliff draws near

With the so-called fiscal cliff on the horizon, lawmakers are considering a number of revisions to the mortgage interest tax deduction, the largest housing-related subsidy in the U.S. tax code, CNBC reported. Among the propositions on the table: capping the deduction at $500,000, capping it at $250,000, limiting the use of the deduction for taxpayers earning over $250,000, or eliminating it entirely. Observers tell CNBC that the talk of changing the deduction is killing the [more]