Sam Farr: “Today is tax day. Everybody knows how much they pay in taxes, but let us not forget that we also have this great country…”

“Today is tax day. Everybody knows how much they pay in taxes, but let us not forget that we also have this great country which has great public institutions, a great system of highways, parks and museums. Essentially, the public infrastructure that is paid by these taxes is second to none. We are also a country of private property, and today we think about homeownership. Why? Because in our taxes we are allowed to deduct homeownership. We need to do a better job, though, with homeownership in America. We have 67 percent of Americans now owning homes, but those in the audience who are between the ages of 25 and 29 have to improve that. There is no better way to improve it than to be able to deduct the home mortgage from our taxes. So I urge my colleagues to support the resolution of the gentlewoman from New Jersey (Mrs. Roukema), which will be introduced today, so that we can continue to preserve mortgage interest deductions in our taxes.”