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Bill
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Middle Class Mortgage Insurance Premium Act of 2022

S. 3590 · 117th Congress · Feb 7, 2022 · Lineage

A BILL

To amend the Internal Revenue Code of 1986 to increase the income cap with respect to the mortgage insurance premium deduction, and to make such deduction permanent.

Section 1 Short title

This Act may be cited as the “Middle Class Mortgage Insurance Premium Act of 2022”.

Sec. 2 Increasing the income cap for and making permanent the mortgage insurance premium deduction

(a)
In general— (1) Section 163(h)(3)(E) of the Internal Revenue Code of 1986 is amended—
(1)
in clause (ii), by striking “$100,000 ($50,000” and inserting “$200,000 ($100,000”, and
(2)
by striking clause (iv).
(b)
Effective date— The amendments made by this Act shall apply to taxable years beginning after December 31, 2021.