Americans overwhelmingly support retaining federal tax incentives to promote homeownership and oppose altering the current system to encourage investment in the stock market, according to results from a new nationwide survey of 800 likely voters.

“Voters are sending a loud and clear message to policymakers in Washington: don’t mess with the mortgage interest deduction and other important housing tax incentives that promote homeownership,” said Jerry Howard, executive vice president and CEO of the National Association of Home Builders (NAHB).

Commissioned by NAHB to gauge the public reaction to the recommendations by the President’s Advisory Panel on Federal Tax Reform to overhaul the current system, the survey was conducted between Nov. 6-8 by Public Opinion Strategies.

The polling found that 81 percent of voters believe it is reasonable for the federal government to provide tax incentives to promote homeownership and 76 percent oppose replacing tax incentives promoting homeownership with incentives to invest in the stock market.

Furthermore, when asked to rate the importance of preserving tax deductions in the current tax system, 73 percent of those surveyed indicated top support for the deduction of mortgage interest and medical expenses. These top two items were followed closely by the deduction for state and local taxes, including property taxes, at 69 percent.

(via NAHB)

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