Major reform to the tax code shouldn’t come at the expense of current and prospective home owners according to a recent statement by the National Association of Realtors. For over a century, America has committed itself to home ownership with targeted tax incentives that help mainly lower-and middle-class families. The mortgage interest deduction and the state and local tax deduction make home ownership more affordable, while 1031 exchanges help investors keep inventory on the market and money flowing to local communities.

These tax incentives are at risk in the recently proposed tax plan. As it stands, homeowners already pay between 80-90% of U.S. federal income tax. Without tax incentives for home ownership, that percentage will rise even further. Current homeowners could very well see their home’s value plummet and their equity evaporate if tax reform nullifies the tax incentives they depend upon – while prospective home buyers will see their dreams pushed further out of reach. Home ownership is one of the last major vehicles for upward mobility and wealth-building for all Americans. Let’s preserve it.