Congress is chewing over a small subsidy to troubled mortgage owners.

国会正反复考虑向身陷困境的抵押人提供小额补贴。

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In the United States, however, mortgage debt is encouraged through a subsidy in our tax code that, in fact, provides the greatest subsidy to those with the largest mortgage and, typically, the highest incomes.

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Housing industry lobbyists often make the case that, whatever you think of the mortgage interest deduction, now would be a terrible time to eliminate or restructure the subsidy.

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However, it was massive government support for the housing industry through the mortgage deduction, rules such as the Community Reinvestment Act, and a multitude of subsidy programs that created the property bubble which burst so disastrously in 2008.

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