One of the most contentious aspects of congressional Republicans’ tax reform legislation is that it would reduce the amount of money new home buyers can deduct each year for interest paid on a mortgage. Democrats and some within the Republican Party, including numerous members of Congress who represent wealthy districts, say this change to the tax code will unjustly hurt families and raise taxes.

Nothing could be further from the truth. Reducing the home mortgage interest deduction would make the tax code fairer and help pare down the massive influence the housing and financial services industries have on tax policy.