Who benefits from mortgage interest tax breaks?
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 3 June 2024
⏱️ 30 minutes
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Summary
A tax break that started out as a way for the government to incentivize homebuying has primarily benefited the wealthy, research shows, while costing the U.S. government $30 billion a year in tax revenue. That amount may more than double in 2026. Also in this episode: OSHA works on new heat guidelines for the workplace, construction spending falls, and the Federal Reserve wants interest rates to be “neutral.”
Transcript
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| 1:14.0 | Not too hot, not too cold. |
| 1:18.0 | Goldilocks, but for interest rates. |
| 1:22.0 | From American public media, this is market flags. |
| 1:27.0 | In Los Angeles, I'm Kai Rizdall. It is Monday, today, the 3rd of June. |
| 1:39.0 | Good as always to have you long, everybody. |
| 1:42.0 | As the Federal Reserve thinks about interest rates, which it will do Tuesday and Wednesday |
| 1:47.6 | next, Chair Powell and the gang are, of course, weighing the data, that's what they tell us all the time. |
| 1:54.0 | They're also looking for signs that the place they've put their main interest rate, |
| 1:59.7 | the federal funds rate it's called, a bit above 5% right now. |
| 2:04.6 | They want to make sure that that's actually doing what they want it to do, slowing the economy |
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