A bill to amend the Internal Revenue Code of 1954 to provide a tax credit to individuals with respect to high mortgage interest rates.

[AI summary unavailable — showing source text] Provides an income tax credit under the Internal Revenue Code to individuals with respect to high mortgage interest rates on the taxpayer's principal residence only. States that the amount of the credit shall be equal to the amount by which the amount of interest paid on the mortgage loan exceeds 7 percent.…