The Economics of Mortgage Revenue Bonds: A Still Small Voice

  • Richard L. Cooperstein
Part of the Current Issues in Real Estate and Economics book series (IREF, volume 2)


The MRB tax expenditure has shown remarkable resilience over time. MRBs survived even during the years of Gramm-Rudman-Hollings and the fight for deficit reduction. This despite the solid evidence of the high cost of this tax-code distortion in relation to the minimal benefits accruing to home buyers (see chapter 3). The reason for their continued survival has little to do with objective benefit-cost analysis. MRBs survive in the way that many other narrowly defined but poorly targeted preferences do: special interest groups like them, so the legislators they influence like them as well.


Home Ownership Capital Gain Bond Proceeds Mortgage Interest Home Buyer 
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© Springer Science+Business Media New York 1992

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  • Richard L. Cooperstein

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