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July 6, 2015

Homework Help: Economics

Posted by Munroe on Wednesday, October 3, 2012 at 11:55pm.

The Tax Reform Act of 1986 eliminated the deductibility of interest payments on consumer debt (mostly credit cards and auto loans) but maintained the deductibility of interest payments on mortgages and home equity loans. What do you think happened to the relative amounts of borrowing through consumer debt and home equity debt?

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