reinstate the federal income tax deduction for interest paid on credit card and private loan debt.

Please sign this petition to ask President Obama to help out the middle class by proposing the reinstatement of the federal income tax deduction for credit card and private loan interest. While more deductions are available for the wealthy, they have dwindled for the middle class. Now there is even a proposal to eliminate the mortgage interest deduction. With so many middle class people still reeling from the losses sustained since the "great recession" every opportunity should be made available to provide economic relief wherever possible.This was a standard deduction for decades when mortgage interest was sometimes as high as 18%. Now many mortgages have single digit interest, some as low as 3.5%, while some credit cards charge as much as 25% on balances. Give us a break!