The Pledge, “Revenue Increases” and the Home Mortgage Interest Deduction
For reasons laid out in my Monday Washington Examiner column, changes to the home mortgage interest deduction or the charitable deduction would adversely impact millions of Americans, are most definitely tax hikes, violate the Pledge to America, and are terrible economic and social policy.
No Republican campaigned on tinkering with either, and I am unaware of any Democrat that did so either. Before the Congress votes changes to these crucial tax code provisions, they should lay out the proposal, declare yea or nay on it, and stand for re-election. The not-for-profit community and the home builders and related businesses should be pummeling the president and the Congress for trying to sneak through a new round of tax hikes on their backs rather than tackle the entitlement mess.
Disgust with the bizarre dance in D.C. is rising, and round after round of secret negotiations are making the freshmen GOP look incredibly obtuse and powerless. These representatives campaigned with the Pledge in their hands and forceful rhetoric on their lips, and now they line up for meaningless conference calls which neither convey information nor seek input and which certainly don’t ask for votes of confidence, and then they are obliged to shrug their shoulders when asked what is going on. The Speaker’s cracker jack staff has led them into cul-de-sac after cul-de-sac, leaking all they way, and springing tax hikes on them that will destroy their re-election campaigns before they begin.