While one can still deduct mortgage interest under this plan, few will actually be able to because the SD will be more than what most pay in interest. Should be good for the younger crowd who tend to rent rather than buy though. I obviously can't speak to your particular tax situation , T:100DOF, but I don't see how the average American will be "screwed out of any more of (their) hard earned money" under this plan. And if it gets some of the corps holding billions off shore to on shore it, could be good for all.