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TC.071
Under the baseline tax system, expenses incurred in earning income would be deductible, but such expenses would not be deductible when the income or the return on an investment is not taxed. Because imputed rental income is not subject to tax, mortgage insurance premiums do not represent expenses incurred in earning income. In contrast, the Tax Code allows mortgage insurance premiums to be treated as deductible mortgage interest expenses. The provision applies to premiums paid in 2021.
This chart shows obligations for the program by fiscal year. All data for this chart was provided by the
administering agency and sourced from SAM.gov, USASpending.gov, and Treasury.gov.
For more information on each of these data sources, please see the
About the data page.
OMB is working with the U.S. Government Accountability Office (GAO) and agency offices of inspectors general to include links to relevant oversight reports. This section will be updated once this information is made available.
