The mortgage interest deduction remains on a list of tax breaks that could be cut by Congress as the Thanksgiving deadline for reducing the national debt by $1.5 trillion approaches. Opposition from real estate organizations to reducing or eliminating the deduction remains strong in the face of a fragile housing market and a weak economy.

Reducing the mortgage interest deduction “would crush the working class in resort areas and damage consumer confidence to buy a home in middle-class areas,” National Association of Realtors Chief Economist Lawrence Yun told attendees at the Northern Virginia Association of Realtors economic summit last month.