H. R. 2760 aims to modify the Internal Revenue Code of 1986 by increasing the income limit for people who can claim a tax deduction for mortgage insurance premiums. The bill proposes raising the income cap from $100,000 to $200,000, effectively doubling the limit for...
Simple Explanation
H. R. 2760 is like a change that lets more people get money back on their taxes if they pay for special home insurance, and they want to keep this rule forever. It’s set to start after December 2025, but they haven't said why they're waiting until then.