The House Committee on Ways and Means convened eleven working groups to examine different aspects of the tax code. Members of the public were invited to submit comments to the working groups, with the understanding that the comments would be summarized and included in the JCT report.
On April 15, NLIHC President and CEO Sheila Crowley submitted comments on behalf of NLIHC and the United for Homes campaign to the Ways and Means Real Estate Working Group, urging that revenue raised from modifications to the mortgage interest deduction be applied to the National Housing Trust Fund.
The basic points of the United for Homes proposal to modify the mortgage interest deduction are included on page 540 of the report. The JCT report also includes an overview of the tax code as it currently stands, as well as a summary of select comprehensive tax reform proposals. The report by design does not include any policy recommendations.
House Committee on Ways and Means Chair Dave Camp (R-MI) and retiring Senate Committee on Finance Chair Max Baucus (D-MT) have indicated a strong interest in pursuing tax reform in the 113th Congress, although no comprehensive legislation has been introduced to date. The Committee on Ways and Means continues to hold hearings to examine different provisions in the tax code, and proposals to alter them. A hearing on the real estate provisions of the tax code was held on April 25.