Middle Class Mortgage Insurance Premium Act of 2021

Middle Class Mortgage Insurance Premium Act of 2021

This bill increases the adjusted gross income threshold for the phaseout of the mortgage insurance premium tax deduction and makes such deduction permanent.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6109 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 6109

 To amend the Internal Revenue Code of 1986 to increase the income cap 
    for and make permanent the mortgage insurance premium deduction.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 1, 2021

Mr. Kind (for himself and Mr. Buchanan) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase the income cap 
    for and make permanent the mortgage insurance premium deduction.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Middle Class Mortgage Insurance 
Premium Act of 2021''.

SEC. 2. INCREASING THE INCOME CAP FOR AND MAKING PERMANENT THE MORTGAGE 
              INSURANCE PREMIUM DEDUCTION.

    (a) In General.--(1) Section 163(h)(3)(E) of the Internal Revenue 
Code of 1986 is amended--
            (1) in clause (ii), by striking ``$100,000 ($50,000)'' and 
        inserting ``$200,000 ($100,000)'', and
            (2) by striking clause (iv).
    (b) Effective Date.--The amendments made by this Act shall apply to 
taxable years beginning after December 31, 2021.
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