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Gingrich Opposes Plan to Limit Mortgage Deductions


Location: Lititz, PA

Newt Gingrich released the following statement opposing Governor Romney's plan to limit home mortgage tax deductions based on income level and affirming his belief in a tax code that treats every American equally under the law:

"Governor Romney's proposal to limit certain tax deductions based on income, including the deduction for mortgage interest on second homes, is a surrender to the class warfare rhetoric of the Left.

"Conservatives believe in the classical American definition of fairness -- that every American be treated equally under the law. That principle of equal treatment must apply to Americans of every income level just as it must apply to Americans of every race, color and creed.

"Governor Romney's tax proposal violates that principle by giving politicians the power to carve out exceptions in the law for people of certain incomes. Furthermore, it sets the stage for future tax increases, as politicians will continually try to decrease the income threshold where citizens will no longer be able to avail themselves of the deductions."

My proposal for an optional 15% flat tax treats all Americans equally and allows them to either keep the current deductions and all the paperwork or move to a very simple system of equal treatment for all Americans with a one page form."

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