Congress is seriously considering the elimination the mortgage interest deduction on individual returns (Schedule A). This would be the first step in the elimination of the Alternative Minimum Tax (AMT); kind of sort of.
Without the mortgage interest deduction most middle class individuals and perceived middle class individuals (affluent taxpayers according to the IRS), a significant portion of taxpayers will move to the use of the standard deduction instead of itemizing (filing Schedule A). Thus making the AMT the tax of the land; so with the elimination of itemization eliminates the AMT by default, which then becomes the tax of the land.
If this occurs it will be interesting to see what happens to charitable contributions. Will we as a country still support to the levels we have been. Will we get more aggressive about fighting property taxes?