standard deduction for many taxpayers so it doesn't help them. But their total cost didn't go up... it just shifted from being a benefit from a specific deduction to a standard deduction. It will be interesting to see though if that changes the calculus.... a potential homeowner will get the higher standard deduction with or without a mortgage, whereas previously they needed the mortgage to get the higher itemized deduction. I'm skeptical it will have much of an impact.

The only deduction that is lost with this plan is interest on mortgage value between $750K and $1M. So people with mortgages >$750K will lose between $1 to $250K of mortgage deductibility which at todays interest rates would result in max ~$10K loss in deductions or a ~$4K increase in taxes as a result (and this is for someone with a $1M + mortgage... so Im also skeptical about how impactful that will be).