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 Record , Volume XLV, No. 28. July 27, 1995.

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