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HR4212-118

Introduced

To amend the Internal Revenue Code of 1986 to increase the income cap for and make permanent the mortgage insurance premium deduction.

118th Congress Introduced Jun 20, 2023

Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.

Summary

What This Bill Does

This bill, To amend the Internal Revenue Code of 1986 to increase the income cap for and make permanent the mortgage insurance premium deduction., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Housing.

Who Benefits and How

financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.

Who Bears the Burden and How

federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.

Key Provisions

  • Section HEE16E43940284A9CBD66AB9D070E919E: 1. Short title This Act may be cited as the Middle Class Mortgage Insurance Premium Act of 2023.
  • Section H4CD9E7DDEB76438A96121B7B8750DAA7: 2. Increasing the income cap for and making permanent the mortgage insurance premium deduction (1) Section 163(h)(3)(E) of the Internal Revenue Code of 1986 is...

Evidence Chain:

This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.

At a Glance

What This Bill Does

This bill, To amend the Internal Revenue Code of 1986 to increase the income cap for and make permanent the mortgage insurance premium deduction., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.

Key Policy Areas

Finance, Housing

Primary Purpose

This bill, To amend the Internal Revenue Code of 1986 to increase the income cap for and make permanent the mortgage insurance premium deduction., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.

Policy Domains

Finance Housing

Whole bill

Identified Gains
  • financial institutions, investors, and borrowers
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: ih
financial institutions, investors, and borrowers:
Identified Costs
  • federal implementing agencies
  • financial institutions, investors, and borrowers
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: ih
federal implementing agencies:
financial institutions, investors, and borrowers:

Sponsors

Vern Buchanan

Vern Buchanan

R-FL | Primary Sponsor

1 cosponsor

Legislative Progress

Introduced
Introduced Committee Passed
Jun 20, 2023

Mr. Buchanan (for himself and Mr. Panetta) introduced the following …

Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →

Bill Structure & Actor Mappings

Who is "The Secretary" in each section?

Domains
Finance Housing
Actor Mappings
"federal_implementing_agencies"
→ Federal agencies assigned duties by the bill

We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.

Learn more about our methodology