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Taxpayers and homeowners, and what's in this budget is limiting how much someone can deduct from their mortgage interest from their taxes. for people in the top two income brackets. those are people generally couples, households who make more than $200,000 a year. so the wealthy in this country, the president saying that they should be able to only deduct 28%, 28% tax rate, now at the 33% and 35% tax rate. immediately you have the realtors, the home builders association, anybody involved with building or selling a house saying this is a very bad idea. the national association of home builders ...

Serious about debt reduction but have to invest in our future. the republicans say none of this goes far enough. >> the changes in the mortgage tack break, too, right? >> a lot of talk about this. this is the most loved and beloved tax break out there. for middle class and upper middle class, they write off their mortgage interest zeroing in very closely, what the white house wants to do, people who make $209,000 or higher to limit some of those deductions. that tax deduction is $131 billion a year in revenue that goes right back to taxpayers. that break could raise a lot of money for this bud...

But also watch out for the mortgage interest deduction. we're not clear how deep this could be, but could there be some changes to the mortgage interest deduction for higher income people, people who make $200,000 or more a year? we know that this administration has been changing how the government relates to the housing market. we talked about fanny, freddie, big changes to phasing out government intervention in the housing finance system. now we will be looking to see if there's maybe a pullback on the mortgage deduction in upper and middle class. hugely up popular in the housing market, for...

Bill scores as reducing the deficit 131 billion dollars over the next ten years. first, a little about cbo. i work with them every single day, very good people, great professionals, they do their jobs well, but their job is to score what is placed in front of them. and what has been placed in front of them is a bill that is full of gimmicks and smoke and mirrors. what do i mean when i say that? well, first off, the bill has ten years of tax increases, about a half a trillion dollars with ten years of medicare cuts, about a half trillion dollars, to pay for six years of spending. and so when yo...

Deficit 131 billion dollars over the next 10 years. first a little about cbo. i work with them everyday. very good people. great professionals, they do their jobs well. but their job is to score what is placed in front of them. what has been placed in front of them is a bill that is full of gimmicks and smoke and mirrors. what do you mean when i say that? the bill has 10 years of tax increases, about half a trillion dollars with 10 years of medicare cuts, about half a trillion dollars to pay for six years of spending. so when you take a look at all of this, strip out of double counting and wha...