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As tax hikes and spending cuts loom, we at the Metro Program will continue to harp on the need also to renew the economy. Put simply, U.S. economic strength and fiscal health requires that Congress cut and invest to catalyze economic renewal even as it moves the nation toward fiscal stability. Along those lines, two briefs the program is releasing today as part of our Remaking Federalism / Renewing the Economy series call for budget negotiators to curtail the massive mortgage interest deduction (MID) and use some of the savings to expand and make permanent the critical research and experimentation (R&E) tax credit . These proposals epitomize what needs to happen this winter as Congress moves to fix the debt. To begin with, the time has come to reform the mortgage interest tax

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