[Congressional Record Volume 147, Number 1 (Wednesday, January 3, 2001)]
[Extensions of Remarks]
[Page E3]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 INTRODUCTION OF LEGISLATION PRESERVING THE MORTGAGE INTEREST DEDUCTION

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                           HON. MARGE ROUKEMA

                             of new jersey

                    in the house of representatives

                       Wednesday, January 3, 2001

  Mrs. ROUKEMA. Mr. Speaker, today I support the resolution preserving 
the mortgage interest deduction. I introduced this resolution today and 
I ask my colleagues to join me in support of this important resolution.
  The mortgage interest deduction has served as one of the cornerstones 
of our national housing policy for most of this century and may well be 
one of the most important tax policies in America today. This incentive 
has transformed this nation from one that was ill housed to the best-
housed nation in the world.
  The value of home ownership to this nation is beyond measure. Home 
ownership is a fundamental American ideal that promotes social and 
economic benefits beyond the simple benefits that accrue to the 
occupant of a home.
  Homeowners are allowed to deduct the interest paid on their home 
mortgage when filing their personal income tax returns. There have been 
a number of attempts in recent years, however, to convince Congress to 
repeal or restrict the deduction. My legislation is a resolution 
expressing the ``sense of Congress'' that the deduction should be left 
intact.
  Mr. Speaker, I ask all my colleagues to join me in this important 
resolution.

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