Richard K. Armey
A proposed "flat tax" would benefit homeowners by lowering long-term interest rates and stimulating economic growth. So argued the
House majoridy leader, Richard K. Armey (R-TX ), who is Capitol Hill's chief proponent of the flat tax idea.
Armey, in his NPC luncheon address July 19, 1995, said what the
homeowner would lose in deductions for mortgage payments he gains
in lower interest rates. Armey cited a survey which showed
significant support for tax reform that eliminates the mortgage
interest deduction if that loss is offset by a reduction in the tax
bill of a similar amount. National Press Club
, Volume XLV, No. 28. July 27, 1995.
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