H.R. 3648 · 110th Congress · enacted
Mortgage Forgiveness Debt Relief Act of 2007
Became Public Law No: 110-142.
Latest official action 2007-12-20 · Enacted
The bill, briefly
(This measure has not been amended since it was passed by the Senate on December 14, 2007. The summary of that version is repeated here.) Mortgage Forgiveness Debt Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income amounts attributable to a discharge, prior to January 1, 2010, of indebtedness incurred to acquire a principal residence. Limits to $2 million the excludable amount of such indebtedness. Reduces the basis of a principal residence by the amount of discharged indebtedness excluded from gross income. Disallows an exclusion for a discharge of indebtedness on account of services performed for the lender or any other factor not directly related to a decline in the value of the residence or to the financial condition of the taxpayer. Sets forth rules for determining the allowable amount of the exclusion for taxpayers with nonqualifying indebtedness and taxpayers who are insolvent. Extends through 2010 the tax deduction for mortgage insurance premiums. Sets forth alternative tests for qualifying as a cooperative housing corporation for purposes of the tax deduction for payments to such corporations. Qualifies a corporation if: (1) 80% or more of the total square footage of the corporation's property is used or available for use by its tenant-stockholders for residential purposes, or (2) 90% of the corporation's expenditures are for the acquisi…
Congressional Research Service · 2007-12-20
Who reported lobbying on this bill?
Amount spent specifically on this bill: not disclosed
The reports below name this bill and disclose an organization’s overall lobbying expenses or a firm’s client income for the period. They can cover many bills and issues. These amounts are not payments to the bill or its politicians.
No matching lobbying report is imported yet. This is not evidence that no lobbying occurred.
2,409 latest lobbying reports imported. Some source imports are still in progress.
Politicians behind the bill
Sponsors and cosponsors from the official source, limited to members currently in office. Campaign amounts are cycle-wide and are not payments for this bill.
Cosponsor
John B. Larson
House · CT District 1 · Democratic
$1,283,090PAC receipts · 2025–2026
Cosponsor
Chris Van Hollen
Senate · MD · Democratic
$78,750PAC receipts · 2025–2026
Cosponsor
Jerrold Nadler
House · NY District 12 · Democratic
$71,000PAC receipts · 2025–2026
Cosponsor
Richard E. Neal
House · MA District 1 · Democratic
$1,689,757PAC receipts · 2025–2026
25 of 25 source cosponsor records retrieved; only current officials and unwithdrawn sponsorships appear.
PAC donors to the listed sponsors
These are all-cycle contributions to the listed sponsors’ and cosponsors’ campaigns. FEC does not attribute them to this bill. A donation plus sponsorship does not establish why a politician acted.
INTERNATIONAL ASSOCIATION OF SHEET METAL, AIR, RAIL AND TRANSPORTATION WORKERS POLITICAL ACTION LEAGUE$30,000
John B. Larson · Cosponsor · $15,000
Jerrold Nadler · Cosponsor · $5,000
Richard E. Neal · Cosponsor · $10,000
Official PAC recordAMERICAN COUNCIL OF ENGINEERING COMPANIES (ACEC/PAC)$22,000
John B. Larson · Cosponsor · $10,000
Chris Van Hollen · Cosponsor · $2,000
Jerrold Nadler · Cosponsor · $0
Richard E. Neal · Cosponsor · $10,000
Official PAC recordEMPLOYEES OF RTX CORPORATION POLITICAL ACTION COMMITTEE$22,000
John B. Larson · Cosponsor · $10,000
Chris Van Hollen · Cosponsor · $2,000
Richard E. Neal · Cosponsor · $10,000
Official PAC recordAMERICAN COUNCIL OF LIFE INSURERS POLITICAL ACTION COMMITTEE$21,000
INSURED RETIREMENT INSTITUTE POLITICAL ACTION COMMITTEE (IRI PAC)$21,000
John B. Larson · Cosponsor · $10,000
Jerrold Nadler · Cosponsor · $1,000
Richard E. Neal · Cosponsor · $10,000
Official PAC recordNATIONAL BEER WHOLESALERS ASSOCIATION POLITICAL ACTION COMMITTEE$21,000
John B. Larson · Cosponsor · $15,000
Jerrold Nadler · Cosponsor · $1,000
Richard E. Neal · Cosponsor · $5,000
Official PAC recordAMERICAN FEDERATION OF TEACHERS, AFL-CIO COMMITTEE ON POLITICAL EDUCATION$20,000
John B. Larson · Cosponsor · $10,000
Jerrold Nadler · Cosponsor · $5,000
Richard E. Neal · Cosponsor · $5,000
Official PAC recordAMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS POLITICAL ACTION COMMITTEE$20,000
AVANGRID POLITICAL ACTION COMMITTEE$20,000
ELEVANCE HEALTH, INC. POLITICAL ACTION COMMITTEE (ELEVANCE HEALTH PAC)$20,000
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY POLITICAL ACTION COMMITTEE$20,000
NATIONAL ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORS POLITICAL ACTION COMM$20,000
NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTS, INC. POLITICAL ACTION COMMITTEE$20,000
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA POLITICAL ACTION COMMITTEE - FEDERAL (GUARDIAN LIFE P$20,000
AMERICA'S CREDIT UNIONS PAC$17,500
AMERICAN CHIROPRACTIC ASSOCIATION POLITICAL ACTION COMMITTEE$17,500
John B. Larson · Cosponsor · $17,500
Official PAC recordCVS HEALTH PAC$17,500
DELOITTE POLITICAL ACTION COMMITTEE$17,500
FINANCIAL SERVICES INSTITUTE PAC$17,500
John B. Larson · Cosponsor · $10,000
Chris Van Hollen · Cosponsor · $2,500
Richard E. Neal · Cosponsor · $5,000
Official PAC recordLPL FINANCIAL LLC POLITICAL ACTION COMMITTEE (LPL PAC)$17,500
John B. Larson · Cosponsor · $7,500
Chris Van Hollen · Cosponsor · $5,000
Richard E. Neal · Cosponsor · $5,000
Official PAC recordMORGAN STANLEY POLITICAL ACTION COMMITTEE$17,500
TEACHERS INSURANCE ANNUITY ASSOCIATION OF AMERICA PAC (TIAA PAC)$17,500
THE CIGNA GROUP EMPLOYEE POLITICAL ACTION COMMITTEE$17,500
THE COUNCIL OF INSURANCE AGENTS & BROKERS POLITICAL ACTION COMMITTEE$17,500
UBS AMERICAS INC. POLITICAL ACTION COMMITTEE (UBS PAC)$17,500
HONEYWELL INTERNATIONAL INC. TECHNOLOGIES PUBLIC AFFAIRS COUNCIL (HONPAC)$16,500
AMERICAN HOSPITAL ASSOCIATION PAC$16,000
John B. Larson · Cosponsor · $10,000
Jerrold Nadler · Cosponsor · $1,000
Richard E. Neal · Cosponsor · $5,000
Official PAC recordCOX ENTERPRISES PAC (COXPAC) INC.$16,000
FMR LLC POLITICAL ACTION COMMITTEE - FEDERAL (FIDELITY PAC)$16,000
GENERAL DYNAMICS CORPORATION POLITICAL ACTION COMMITTEE (GENERAL DYNAMICS EMPLOYEE PAC)$16,000
NEW YORK LIFE INSURANCE COMPANY POLITICAL ACTION COMMITTEE$16,000
NATIONAL ASSOCIATION OF REALTORS POLITICAL ACTION COMMITTEE$15,500
John B. Larson · Cosponsor · $10,000
Chris Van Hollen · Cosponsor · $500
Richard E. Neal · Cosponsor · $5,000
Official PAC recordEMPLOYEES OF NORTHROP GRUMMAN CORPORATION PAC$15,000
ENGINEERS POLITICAL EDUCATION COMMITTEE (EPEC)/INTERNATIONAL UNION OF OPERATING ENGINEERS$15,000
EQUITABLE HOLDINGS, INC. POLITICAL ACTION COMMITTEE (EQUITABLE PAC)$15,000
ERNST & YOUNG POLITICAL ACTION COMMITTEE$15,000
KIDSPAC$15,000
LABORERS' INTERNATIONAL UNION OF NORTH AMERICA (LIUNA) PAC$15,000
LINCOLN NATIONAL CORPORATION POLITICAL ACTION COMMITTEE (AKA LINCOLN FINANCIAL FEDERAL POLITICAL ACTION COMMITTEE, FEDERAL LFGPAC)$15,000
MACHINISTS NON PARTISAN POLITICAL LEAGUE OF THE INTERNATIONAL ASSOCIATION OF MACHINISTS & AEROSPACE WORKERS$15,000
John B. Larson · Cosponsor · $5,000
Jerrold Nadler · Cosponsor · $5,000
Richard E. Neal · Cosponsor · $5,000
Official PAC recordThe largest 40 donor totals appear here. Open each politician for their complete, paginated PAC donor list.
What happened after enactment?
Dated agency-reported implementation and uptake measures are shown with their scope. They do not by themselves establish causal success. If no evidence is listed, the outcome is not established.
Measured outcome: not established
Enactment alone does not show whether a law improved its intended outcome. We need a dated evaluation, observed result or verified implementation record before claiming success or failure.