It is laudable that Sen. Bob Packwood (R-Ore.) is proposing, against much opposition, to lower the deduction for home mortgage interest to $250,000 from the current $1 million.
But where is the groundswell (not even a whisper!) of support for abolishing the mortgage interest deduction for second homes? The intention of the home mortgage deduction was to make home ownership attainable for most Americans. Nowhere is there justification for "two homes for each American"!