<p style="text-align: justify;">An issue currently under negotiation in the widely debated tax reform is the possible elimination of the mortgage interest deduction.  Currently, itemizing taxpayers can deduct their mortgage interest on up to $1 million of a qualified principal (and, in some cases, a second) residence; meanwhile, those who rent a home are not granted a similar deduction.  Itemizing taxpayers can also deduct interest on up to $100,000 of home equity debt.  According to various estimates, this deduction cost the Treasury Department between $80 and $103 billion in 2010, and its value over the next 10 years is anticipated to surpass $1 trillion.</p>
