This stops interest from running and creates an interest deduction.

But allowing interest deductions for mortgages of up to $1 million goes too far.

"A judge would say that reliance was unreasonable and she should have known better than to take those interest deductions."

The Clintons nonetheless took a $2,811 interest deduction on their 1984 return.

This area of the tax code permits interest deductions on loans to pay premiums.

Experts on tax law and economists interested in inequality have been writing about the carried interest deduction for years.

Furthermore, the new law places tighter restrictions on interest deductions.

But this effort has alleged that the interest deduction is in serious jeopardy.

The new law also said that interest deductions on loans for investments could not exceed an individual's total investment income in any one year.

"They've gotten all the rest of the interest deductions, so I certainly don't like them playing around with the one thing we have."