I’m writing in response to a letter in the April 2 paper about a bill to eliminate the mortgage interest deduction.
The writer is correct in that facts do matter. The mortgage interest deduction helps homeowners in Oregon afford the homes they’re in. SB 852 would end that deduction and make homeownership more expensive. That’s a fact.
Another fact is, the money generated by the end of the mortgage interest deduction would go into the state’s general fund. We can’t guarantee it will be spent on affordable housing.
In the midst of a global pandemic and historically low housing levels, Oregon desperately needs more affordable housing, and the mortgage interest deduction helps do that.