A bill to amend the Internal Revenue Code of 1954 to provide for a credit, in lieu of a deduction, for interest paid on a mortgage on a taxpayer's principal residence.

Provides, under the Internal Revenue Code, for a tax credit of up to $2,000 ($1,000 in the case of a married individual filing separately) in lieu of a tax deduction, for interest paid on a mortgage on a taxpayer's principal residence.