Commentary

Renters Win in Tax Law; Dems Lie About It

By Betsy McCaughey
Wednesday, January 03 2018

Renters came out winners under the new tax law. For over a century, the federal tax code catered to homeowners and treated renters like second-class citizens. Homeowners have been able to deduct interest on their mortgages and home equity loans, as well as property taxes. Meanwhile, everyone, including renters, footed the bill for these deductions by paying higher rates. The new tax law at last begins leveling the playing field between renters and homeowners. Millions of New Yorkers and Californians reap the benefits, because these states have among the lowest rates of homeownership in the nation…

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