The 2017 tax reform shrank the mortgage deduction’s revenue cost by two-thirds.

Evidence

The deduction and its impact on federal revenues are changing as a result of the 2017 Tax Cuts and Jobs Act; when I first began studying this in 2009, the estimated revenue loss created by the mortgage interest deduction, most often claimed in those “white, middle-aged, and married” zip codes, was projected to be 94.5 billion. In 2021, it's projected to be under 29.5 billion, and roughly just 10 percent of American taxpayers are now itemizing deductions instead of taking the standard deduction. — Dorothy A. Brown, Getting to Reparations, 1243