Whites Benefit Disproportionately from the Mortgage Interest Tax Deduction

In two bars, this graph shows estimates of the impact of the existing Home Mortgage Tax deduction for each race group in one bar, and racially equitable impacts based on population size for each group in the second bar. The current share bar shows that in its current form, 78% of whites benefit from the Home Mortgage Tax deduction, compared to 6% of blacks, 7% of Latinos, and 7% of Asians. The equitable share bar shows that equalizing this tax benefit across racial groups would reduce the white share to 67% and the Asian share to 5%, while increasing the shares for blacks and Latinos to 13% each.