SUPPORT NEEDED FOR DEBT FORGIVENESS ACT – NOW ON THE HILL
Congress is scheduled to vote on the Mortgage Forgiveness Debt Relief Act (MFDRA) today. The bill is an attempt to reclassify and thereby forgive foreclosure-related debts as taxable income. The MFDRA has been reinstituted several times since it was originally passed in 2007. Congress must pass this bill in the remaining days of…