In Brief: $1.7 Trillion Tab Seen For Ending Tax Break

WASHINGTON - A study done for the National Association of Realtors says a flat tax that does away with the mortgage interest and property tax deductions will cost the nation's homeowners $1.7 trillion.

The association announced the findings of the study at a news conference on Wednesday sponsored jointly with the United Homeowners Association and the American Homeowners Foundation.

The study was done by DRI-McGraw Hill.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER