Making Homeownership Affordable Again Act
Sponsored By: Representative Rep. Mace, Nancy [R-SC-1]
Introduced
Summary
This bill would fully remove the dollar cap on the tax exclusion for gains from selling a principal residence and extend that full exclusion to sales made to first-time homebuyers. It changes the Internal Revenue Code so qualifying sellers can exclude all gain rather than an amount limited by current law.
Show full summary
- Home sellers: Sellers of a principal residence would be able to exclude the entire gain from taxation because the bill eliminates the existing dollar limit on that exclusion. This affects any qualifying sale of a principal residence.
- Sales to first-time homebuyers: Sellers who sell a residence to a defined first-time homebuyer would also be eligible for the full exclusion. The bill defines a first-time homebuyer as an individual, and if married that individual's spouse, who had no present ownership interest in a principal residence during the three-year period ending on the sale.
- Tax-code mechanics and timing: The proposal amends multiple parts of section 121 to preserve internal consistency and says these changes would apply to sales and exchanges made after enactment.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
No dollar cap on home-sale gains
If enacted, this bill would remove the dollar limit on the tax exclusion for gain when you sell your main home. It would also let you exclude gain when you sell a residence to a "first-time homebuyer." A "first-time homebuyer" would be someone (and that person's spouse) who owned no principal residence during the three years before the sale. These changes would apply to sales and exchanges made after the date of enactment.
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Sponsors & CoSponsors
Sponsor
Rep. Mace, Nancy [R-SC-1]
SC • R
Cosponsors
Rep. Boebert, Lauren [R-CO-4]
CO • R
Sponsored 2/5/2026
Roll Call Votes
No roll call votes available for this bill.
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