HB 3349 phases out mortgage interest deduction

HB 3349
In Committee
Work Session 03/20/2019 1:00pm HR 50
Status (overview) of bill:https://olis.leg.state.or.us/liz/2019R1/Measures/Overview/HB3349
Committee assigned to bill:https://olis.leg.state.or.us/liz/2019R1/Committees/HHS/Overview

SEND TESTIMONY BEFORE WORK SESSION: hhs.exhibits@oregonlegislature.gov

This bill phases out mortgage interest deductions on principal residence for many Oregonians, and impairing a family’s ability to buy a home.

Personal Choice and Responsibility
Young families scrimp and save to buy their first home, knowing they could then deduct the interest on their taxes and build equity. Older workers and retirees have long depended on their ability to deduct the interest on their mortgages on their tax forms. The loss of this deduction will be a painful blow for many families.

Fiscal Responsibility
Fiscally not responsible to the lower and middle class trying to buy a home.

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  1. I have worked very, very hard all my life, I am by far not rich, middle-middle class, and with a bit of savings we have purchased a home on the coast for a retirement home. We have been trying to plan for our future, and not to end up being a “ward” of the state, being responsible instead, and now you want to tax us for this????
    Legislators, why are you destroying Oregon? You refuse to budget our money wisely, refuse to look at what you can do with the thing driving costs, PERS, yet you will punish those who work, those who sacrifice, just so you don’t have to do heavy lifting yourselves????
    It saddens me to think that this is the best that Oregon has anymore, we are bettter than this…..
    Bob Horning
    21215 NW Brunswick Canyon Rd
    North Plains, OR 97133

  2. You know what Democrats do but you elect them unanimously. So deal with it. I paid down my mortgage over the past few years seeing the handwriting on the legislation. Plus I just have a modest home, no frills. This is just the beginning, Bob. Enjoy the ride downhill to Venezuela.

    • Not all of us do John. But your right about one thing these Democrats say one thing and do another and still get the majority of the votes. Makes no sense.

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