It's official. It appears the mortgage interest deduction is now in play when it comes to the fiscal cliff debate. President Barack Obama signaled that the interest deduction may go away unless Republicans agree to increase taxes on higher income earners.
The exchange took place on Twitter Monday, as the President was taking to social media to drum up support for his administration's stance that higher earners should be taxed more as part of Democrats' proposed solution to the so-called fiscal cliff.
Here's the Twitter exchange:
As a home owner, I worry deductions for home owners are at risk. Is that the case? #My2k— Emma Robertson (@soitgoesem) December 3, 2012
.@soitgoesem breaks for middle class impt for families & econ. if top rates don't go up, danger that middle class deductions get hit - bo— The White House (@whitehouse) December 3, 2012
The President signs tweets he personally authors with "-bo." And with that, the mortgage interest deduction is officially in play. Will be interesting to see how this plays out in the weeks ahead.