Home Equity line of credit

[exboyfil]

4. I am not sure the Republicans

have thought through the microeconomic decisions that will be driven by this tax plan. In addition to pruning some of the deductions, you will also move the threshold for itemizing from $12,700 to $24,000.

I think they will be surprised, and many of their voters will be as well, by having the number itemized deductions go from 30% to 10% of tax returns.

1. No longer tax deductible contributions to your church (this is immediately 12%/22%/24% less money available.
2. When you calculate that home purchase again the ongoing mortgage interest and property taxes will be 12% to 24% higher
3. As you indicated home improvements have gotten more expensive (both not being able to deduct interest and higher assessed value for property taxes).