Quicken Loans’ Dan Gilbert Concurs With Gary Cohn On Mortgage Deduction

Cohn, director of the White House National Economic Council, said on Thursday, “People don’t buy homes because of the mortgage deduction.
Quicken Loans founder Dan Gilbert: As long as rates are reasonable, mortgage deduction going away doesn’t matter 2 Hours Ago | 03:49Billionaire Quicken Loans founder and Chairman Dan Gilbert said Friday that people don’t buy homes because of the mortgage interest deduction, echoing a comment from Trump economic advisor Gary Cohn about the GOP tax overhaul.
The framework keeps the mortgage deduction, which taxpayers can only claim if they itemize.
“The GOP tax plan was unveiled on Wednesday.
But given that the GOP proposes to double the standard deduction, which would shield double the income from being taxed than the current level, people may choose the new higher standard deduction instead of itemizing.

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