Walz introduces bill to end tax breaks for luxury yacht owners

Rep. Tim Walz introduced legislation on Tuesday that would end tax subsidies for luxury yachts. The IRS provides breaks for taxpayers who own yachts that have kitchens and bathrooms and therefore could qualify as a residence — even if the taxpayers don’t live there full time.



Sen. Al Franken is pushing an amendment to the financial reform bill that would create an office to investigate complaints by homeowners who believe their mortgage handlers are breaking the law.…
It’s no secret that North Minneapolis has been hit harder by the mortgage meltdown than any place in Minnesota. While no neighborhood is immune to the housing crisis — million-dollar downtown condos are seeing foreclosures, and so…






