Middle Class Mortgage Insurance Premium Act of 2023

HR 4212, the Middle Class Mortgage Insurance Premium Act of 2023, increases the income limit for deducting mortgage insurance premiums on federal income taxes. It raises the cap from $100,000 (or $50,000 for married filing separately) to $200,000 (or $100,000 for married filing separately), making this deduction permanent. This change directly benefits middle-income homeowners who itemize deductions and pay mortgage insurance premiums, allowing them to deduct more of these costs. The bill applies to taxable years beginning after December 31, 2023.