A new national poll conducted for National Low Income Housing Coalition (NLIHC) affirms previous findings that while most Americans continue to think the mortgage interest deduction (MID) is a good idea, a majority support making modifications that will expand tax breaks to low and moderate income homeowners.
79% of respondents who answered the MID questions think the current MID is a good or very good idea, but
60% favor lowering the cap to $500,000 and 61% favor converting the deduction to a tax credit;
Widespread concern about homelessness, with 89% reporting they think homelessness is a very or somewhat serious problem in the U.S and 74% who think we are not doing enough to end homelessness; and
Wide majorities support housing solutions to end homelessness, with 76% favoring adding more affordable housing in their state to help end homelessness, 75% favoring federal funding to build or rehabilitate homes that low income people can afford, and 67% favoring expanding federal rent assistance for low income families.
Respondents were asked what they would do with the revenue raised by the two proposed changes to the MID:
26% would use the new revenue to reduce the deficit only;
15% would fund affordable housing only;
53% would do both. ; thus
Over two-thirds (68%) of Americans would direct at least some of the revenue raised from MID reform to fund affordable housing to end homelessness.