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3d ago

Trump Endorses Greene’s Bill to Eliminate Capital Gains Tax on Home Sales

Pending review in the House Ways and Means Committee, it faces questions over its fiscal impact on federal revenue.

U.S. President Donald Trump walks on the south lawn of the White House and points up at the new flag on July 13, 2025 in Washington, DC.

Overview

  • Rep. Marjorie Taylor Greene’s No Tax on Home Sales Act would wipe out federal capital gains taxes on primary residence sales.
  • President Trump voiced support for the proposal on July 14, calling it a boost for homeowners needing to unlock equity.
  • The measure has been referred to the House Ways and Means Committee with no debate or floor vote scheduled.
  • Current IRS rules exempt up to $250,000 for single filers and $500,000 for joint filers despite median home prices rising from $145,800 in 1997 to $416,900 in 2025.
  • Critics warn the plan could deplete Treasury revenues and predominantly benefit wealthier homeowners.