eliminate the mortgage interest deduction on homes over one million dollars.

The mortgage interest deduction was instituted to help families realize the dream of home ownership, however, as currently written this deduction disproportionately helps those of higher incomes purchase luxurious houses. The NY Times recently reported this deduction costs the government approximately $35 billion dollars a year for families making over $200,000. With the fiscal cliff looming, this is a clear step that both sides of the aisle can agree that it is no longer affordable to subsidize the rich in luxurious home purchases and should be limited to middle class families struggling to make ends meet.