IV
106TH CONGRESS
1ST SESSION
H. CON. RES. 87
Expressing the sense of the Congress that the current Federal income tax
deduction for interest paid on debt secured by a first or second home
should not be further restricted.
IN THE HOUSE OF REPRESENTATIVES
APRIL 15, 1999
Mrs. ROUKEMA (for herself, Mr. SHOWS, Mr. BACHUS, Mr. UPTON, Mr. NEY,
Mr. CAMPBELL, Mr. WHITFIELD, Mr. WOLF, Mrs. THURMAN, Ms. DAN-
NER, Mr. DOOLEY of California, Mr. KUYKENDALL, Mr. LEACH, Mrs.
KELLY, Mrs. MINK of Hawaii, Mr. LATOURETTE, Mr. RILEY, Mr. HALL
of Ohio, Mr. HOSTETTLER, Mr. MARTINEZ, Mr. MCHUGH, Mr. DIXON,
Mrs. MORELLA, Mr. FILNER, Mr. BENTSEN, Mr. BEREUTER, Mr. GARY
MILLER of California, Mr. LOBIONDO, Mr. TANNER, Mr. ROHRABACHER,
Mr. GILLMOR, Mr. NADLER, Mrs. EMERSON, Mr. HERGER, Mr. BARRETT
of Wisconsin, Mr. SMITH of Washington, Mr. WELLER, Mr. PAUL, Mr.
SHERMAN, Mr. BLUMENAUER, Mr. ROTHMAN, Mr. WALSH, Mr. BAR-
RETT of Nebraska, Mr. GORDON, Mr. PASTOR, Mrs. CAPPS, Mr. BER-
MAN, Ms. KAPTUR, Mr. OSE, Mr. HILL of Indiana, Mr. BONIOR, Mr.
FARR of California, Mr. LUCAS of Kentucky, Ms. BERKLEY, Mr. SNY-
DER, Mr. PRICE of North Carolina, Mr. CLYBURN, Mr. NEAL of Massa-
chusetts, Mr. MCCOLLUM, Mr. SHAYS, and Mr. DIAZ-BALART) submitted
the following concurrent resolution; which was referred to the Committee
on Ways and Means
CONCURRENT RESOLUTION
Expressing the sense of the Congress that the current Fed-
eral income tax deduction for interest paid on debt se-
cured by a first or second home should not be further
restricted.
•HCON 87 IH
Whereas homeownership is a fundamental American ideal,
which promotes social and economic benefits beyond the
benefits that accrue to the occupant of the home;
Whereas homeownership is an important factor in promoting
economic security and stability for American families;
Whereas it is proper that the policy of the Federal Govern-
ment is and should continue to be to encourage home-
ownership;
Whereas the rate of homeownership grew from 64.7 percent
of households in 1995 to 67 percent in 1998;
Whereas the housing needs of the population will change as
the population ages;
Whereas the greatest growth sectors in homeownership are
minorities and first-time homebuyers;
Whereas the level of homeownership among foreign-born nat-
uralized citizens who have been in the United States for
at least 6 years is the same as the level of homeowner-
ship of the nation as a whole (67 percent in 1998);
Whereas the value of a home represents a valuable source of
savings for a family;
Whereas the provisions related to homeownership are among
the simplest and most easily administered provisions of
the Internal Revenue Code of 1986;
Whereas the current Federal income tax deduction for inter-
est paid on debt secured by a first home has been a valu-
able cornerstone of this Nation’s housing policy for most
of this century and may well be the most important com-
ponent of housing-related tax policy in America today;
and
•HCON 87 IH
Whereas the current Federal income tax deduction for inter-
est paid on debt secured by second homes is of crucial
importance to the economies of many communities in
each of the 50 States: Now, therefore, be it
Resolved by the House of Representatives (the Senate
concurring), That it is the sense of the Congress that the
current Federal income tax deduction for interest paid on
debt secured by a first or second home should not be fur-
ther restricted.
Æ