The health and vitality of American’s economy depends upon people wanting to buy and own homes. The Mortgage Interest Tax Deduction is valuable to the economy and has been important for U.S.Home Buyers and owners since 1913. Any reduction or elimination of the Mortgage Interest Tax Deduction would negatively impact the housing market. President Obama’s fiscal commission recently made proposals to manage the federal budget by either reducing or eliminating tax deductions, including the Mortgage Interest Tax Deduction. This is misguided and strongly opposed by the California Association of Realtors and the National Associaton of Realtors. Our government MUST retain the Mortgage Interest Tax Deduction. It is essential for our economy and to stabilize property values.