Create a mortgage interest tax credit for non-itemizers

We scoured President Barack Obama’s tax proposals thus far, as well as the tax measures in the economic stimulus package, but we came up empty when looking for a new mortgage interest tax credit for non-itemizers.

In fact, the latest tax guidance from the Internal Revenue Service states that tax filers still must itemize to get a deduction for home mortgage interest.

We should add there are a number of tax issues Obama and Congress will likely address in 2010, and this may yet get proposed. But right now, we can’t find any action on this promise, so we rate it Stalled.