Letter: Joint Trades Letter to Senate Finance Committee in Support of MI Tax Deduction

November 17, 2022

USMI joined a coalition of housing finance organizations including the American Bankers Association, Mortgage Bankers Association, National Association of Home Builders, and National Association of REALTORS® in sending a letter to the Senate Finance Committee Chairman Ron Wyden. The undersigned organizations urged the committee to support existing homeowners and prospective homebuyers by modifying current law to make the mortgage insurance premium tax deduction permanent and increase its income phaseout. The tax deduction for mortgage insurance premiums has long enjoyed bipartisan support and, as Congress considers any year-end tax package, our organizations firmly believe this deduction is both good tax policy and housing policy. Click here to read the letter.