Bettencourt: Tax Bill Benefits Middle-Class

A former Harris County tax assessor turned state senator insists the GOP tax bill is a big win for the middle-class.

State Sen. Paul Bettencourt (R-Houston) praises the new bill, saying homes up to $500,000 in value can still get a full property tax deduction.

“Real numbers are real numbers, and when you look at the tax package, this clearly does give the middle-class a tax break,” says Bettencourt, who points out other advantages as well.

“The standard deduction is doubled for all taxpayers which right off the bat really helps low-income workers catch up,” he says.

The legislation also lowered the mortgage interest deduction on new loans.

“The homeowner still gets to maintain writing off up to $10,000 on both sales and property taxes in Texas, but they also get to have an interest deduction on any type of debt they carry on a mortgage up to $750,000.”

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