And if you itemize any deductions like mortgage interest, those deductions will be of less benefit because they'll have to meet a $12,000 hurdle vs. the current $6,350.  Essentially, by "relabeling" the current personal exemption as a part of the standard deduction, it will reduce the amount of deductible mortgage interest for many middle class persons by $4,050.  It will significantly reduce the tax incentive of home ownership at the bottom end of the price range.