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McMansion 'tax' proposed

Posted by Andrew Caffrey August 8, 2007 02:46 PM

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Michigan Democratic Congressman John Dingell is best known for his positions on the home-town auto industry, but his lastest suggestion to curb global warming and conserve energy is likely to roil the housing industry.

Dingell said he will proposed ending the mortgage interest tax deduction, an enormous bounty for homeowners, for properties larger than 3,000 square feet.

Dingell made his remarks as a town hall meeting of constituents Tuesday in Michigan, and the penalty against owners of large homes is but one of many painful steps he said consumers and industry will have to take to curb global warming. See full story from the Detroit Free Press.

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Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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