Regional News

Audit Finds Mortgage Interest Deduction Not Equitable

(Salem, OR) -- Oregon's mortgage interest tax deduction is inequitable and regressive, according to an audit by the Oregon Secretary of State. It costs the state one-point-one billion dollars annually and benefits the top one-percent of earners more than the 727-thousand taxpayers in the bottom 40-percent combined. Black, Native American and Latino Oregonians receive disproportionately less benefits than white Oregonians. The audit recommends the Legislature identify a clear purpose for the deduction and determine whether changes are needed to make sure that goal is met.

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