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US tax bill upends long-time perks of owning a home

It is tinkering with subsidies so entrenched in the social fabric they have become entitlements in all but name

The bill will increase many homeowners' monthly housing costs by scaling back deductions that allow them to reduce mortgage interest and property taxes.


FOR decades, the US tax code has been filled with rewards for homeownership. Tax breaks encourage people to get into first homes and to trade up as they get older, building a national mindset that you're never quite middle class until you've qualified for a mortgage.