by striking 2018 through 2025 in the heading and inserting after 2017 . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2016. 14. Permanent extension of limitation on deduction for qualified residence interest (a) Repeal of home equity indebtedness (1) In general Section 163(h)(3)(A) of the Internal Revenue Code of 1986 is amended by striking during the taxable year on and all that follows through For purposes of and inserting during the taxable year on acquisition indebtedness with respect to any qualified principal residence of the taxpayer. For purposes of . (2) Conforming amendment Section 163(h)(3) of such Code is amended by striking subparagraph (C). (b) Limitation on acquisition indebtedness (1) In general Section 163(h)(3)(B)(ii) of the Internal Revenue Code of 1986 is amended by striking $1,000,000 ($500,000 and inserting $750,000 ($375,000 . (2) Treatment of indebtedness incurred on or before December 31, 2017