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Article snippet: WASHINGTON — Republicans’ release of a sweeping plan to rewrite the tax code has set off a scramble among Washington lobbyists and trade groups to protect valuable tax breaks and other long-ingrained provisions. The plan’s scant details make it hard to know what, exactly, is on the chopping block. But within hours of the plan’s unveiling on Wednesday, flash points emerged over measures that supporters said could hurt the housing market, raise borrowing costs and increase the tax burden on families in high-tax states. The response put Trump administration officials on the defensive as they embark on a campaign to sell the plan. “The lobbyists shouldn’t have input, but the people in Congress should have input, and we’ll be working with them closely as we turn this into a bill and get it to the president to sign this year,” Steven Mnuchin, the Treasury secretary, said on Fox Business Network on Thursday. Opposition from the real estate industry was swift and vocal, with trade groups strongly criticizing elements of the plan that they say will make home-buying less attractive and weaken the housing market. While the plan specifically calls for preserving the mortgage interest deduction, real estate agents are warning that a proposal to double the standard deduction will make taxpayers less likely to itemize their tax returns and claim the mortgage deduction. The deduction is a key incentive for people to buy homes, since it reduces their taxable income by the amount ... Link to the full article to read more