I wanted to see how the latest tax expenditure estimate for the mortgage interest deduction [MID] compared to the estimate the Treasury made in FY 2017. (I made no adjustment for inflation).
- In their FY 2017 report (before tax reform) the Treasury estimate showed cumulative FY 2018-FY 2015 MID tax expenditures of $817 billion.
- In the latest estimate the Treasury cumulative FY 2018-FY 2025 MID tax expenditure estimate is $290 billion, a decline of $527 billion or 64%.
- During this 8 year period the annual gap between the FY 2017 and the latest (FY 2020) MID tax expenditure projection increases each year, from $39 billion in FY 2018 to $82 billion in FY 2025.
Originally created and posted on the Oregon Housing Blog.