Will tax debt be wiped out next? Probably not

Reuters:

The leader of the U.S. House of Representatives said on Monday lawmakers expect to begin debating legislation this week that would let judges erase some mortgage debt for borrowers who file for bankruptcy.

U.S. House Speaker Nancy Pelosi said Democratic leaders hope to bring mortgage bankruptcy legislation known as the "cramdown" bill to the House floor on Thursday.

...

I think it is safe to say that the Democrats will not let taxpayers do a cram down with the IRS on past due taxes. But why should a tax lien be superior to a mortgage lien?

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