Professor Ventry Comments for Bloomberg on Mortgage-Interest Deduction
Professor Dennis Ventry commented for Bloomberg on the mortgage-interest deduction as part of an article examining the Trump administration’s plans to rewrite the tax code.
Ventry states that economists have criticized the deduction because it disproportionately benefits people with expensive properties, including those who would have purchased a home even without the tax break, and artificially inflates home prices. Ventry observed that Trump's plan, which raises the standard deduction to a level where about 25 million homeowners would no longer use the mortgage-interest deduction, might end up boosting home ownership over time by lowering housing prices and providing buyers with more money to spend.
Professor Ventry is an expert in tax policy and legal ethics. His research interests include tax expenditure analysis, family taxation, professional responsibility and standards of care, tax filing and administration, tax compliance, public finance, and tax and legal history. In addition, he is Vice Chairman of the IRS Advisory Council, and co-author on the casebook, Federal Income Taxation with Martin McMahon, Jr., Daniel L. Simmons, and Bradley T. Borden.