The Making Homeownership Affordable Again Act would eliminate federal income tax on profits from home sales in two situations: when someone sells their primary residence, and when someone sells any residence to a first-time homebuyer. Currently, homeowners can exclude up to $250,000 in gains ($500,000 for married couples filing jointly), but this bill would remove those dollar caps entirely. The legislation also defines a first-time homebuyer as someone who hasn't owned a principal residence in the prior three years. These changes would take effect immediately upon the bill's enactment and primarily benefit homeowners selling properties and individuals purchasing their first homes by reducing or eliminating capital gains taxes on these transactions. The bill was introduced in February 2026 and referred to the House Ways and Means Committee.
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