To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes.
Sponsor
Full profile: /officials/G000601
Source: Congress.gov · FEC
Cosponsors (6)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Plain-English Summary
This proposal would remove the current $250,000 limit (or $500,000 for married couples) on how much profit homeowners can exclude from taxes when they sell their primary residence, allowing people to avoid paying capital gains taxes on larger home sale profits. The change would primarily benefit homeowners in high-cost real estate markets who have seen their property values increase significantly over time, though it could reduce tax revenue collected by the federal government.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
Subjects
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