[Congressional Record Volume 145, Number 52 (Thursday, April 15, 1999)]
[Extensions of Remarks]
[Page E671]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             IN SUPPORT OF THE MORTGAGE INTEREST DEDUCTION

                                 ______
                                 

                            HON. LOIS CAPPS

                             of california

                    in the house of representatives

                        Thursday, April 15, 1999

  Mrs. CAPPS. Mr. Speaker, today is April 15th, tax day. It's a good 
day to take a thoughtful look at our tax policy.
  Yes, we must reduce our tax burden, bring more fairness to our tax 
law, and simplify the tax code. But today we must also be very wary of 
gimmicks, schemes, and risky proposals.
  I am particularly concerned about proposals like the flat tax that 
would eliminate the mortgage interest deduction.
  This tax policy has greatly improved the quality of life for millions 
of middle class families across our nation. It has enabled countless 
families in San Luis Obispo and Santa Barbara Counties to raise their 
children in stable, secure neighborhoods. Home ownership is on the 
increase across America, and with this increase comes better schools, 
less crime, and more civic participation.
  Owning a home contributes enormously to the financial security of our 
families. Nothing symbolizes the American dream more than owning a 
home. For this reason, I am the proud cosponsor of a Congressional 
resolution expressing strong support for the protection of the home 
mortgage interest tax deduction. On tax day, let's commit ourselves to 
making the ideal of home ownership a reality for all Americans.

                          ____________________