The Tax Reform Act of 1986 eliminated the deductibility of interest payments on consumer debt (mostly credit

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The Tax Reform Act of 1986 eliminated the deductibility of interest payments on consumer debt (mostly credit cards and auto loans)

but maintained the deductibility of interest payments on mortgages and home equity loans.

What do you think happened to the relative amounts of borrowing through consumer debt and home equity debt?

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Principles Of Microeconomics

ISBN: 9780538453042

6th Edition

Authors: N. Gregory Mankiw

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Question Posted: Nov 04, 2024 06:01 AM

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The Tax Reform Act of 1986 eliminated the deductibility of interest payments on consumer debt (mostly credit

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Principles Of Microeconomics

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