Congresswoman Marjorie Taylor Greene has introduced new legislation aimed at eliminating the federal capital gains tax on home sales, a move she says will let families keep more of their hard-earned equity and inject life into a tight housing market.
Speaking about the plan, Greene argued that homeowners who build wealth through their properties shouldn’t face what she calls a “punishing tax bill” simply for selling their primary residence. Her proposal, officially named the “No Tax on Home Sales Act,” would erase the existing federal tax on profits from selling a main home.
Supporters believe this could unlock more properties for sale, making it easier for first-time buyers to find a foothold. By stripping away the tax penalty, Greene hopes more retirees and families considering downsizing will actually list their homes, increasing housing supply and easing some price pressure.
But the idea has drawn sharp criticism. Policy experts warn that scrapping the tax could heavily favor wealthier sellers, while also cutting off a stream of federal revenue that funds everything from infrastructure to healthcare. Some argue it might even stoke speculative buying or push prices higher in markets already stretched thin.
Filed on July 10, the bill now heads to the House Ways and Means Committee for initial scrutiny. Even if it advances there, it faces a long path through Congress before possibly reaching the president’s desk. Lawmakers are expected to debate how to balance immediate relief for homeowners against potential strains on the federal budget.
With the housing market still wrestling with high prices and tight inventory, Greene’s push puts a bold, if controversial, idea back at the center of Washington’s debate over how to keep homeownership accessible for everyday Americans.
