More Homes on the Market Act
The summary
What this bill does
More Homes on the Market Act
This bill increases the amount of gain from the sale of a principal residence that an individual may exclude from gross income (for federal tax purposes).
Under the bill, an individual may exclude from gross income gain from the sale of a principal residence of up to $500,000 (currently $250,000), and taxpayers who are married and file a joint federal income tax return may exclude up to $1 million (currently $500.000). The bill also requires these amounts to be adjusted annually for inflation.
Legislative timeline
From introduction
Feb 13, 2025
Introduced & referred to committee
Congressional support
Sponsors & Cosponsors
U.S. Representative - CA District 19 · D-CA
116 cosponsors
U.S. Representative - PA District 16 · R-PA
U.S. Representative - NY District 11 · R-NY
U.S. Representative - IN District 2 · R-IN
Member of Congress · D-CA
U.S. Representative - WA District 1 · D-WA
U.S. Representative - MI District 3 · D-MI
U.S. Representative - CA District 26 · D-CA
U.S. Representative - FL District 27 · R-FL
U.S. Representative - CA District 15 · D-CA
U.S. Representative - CA District 48 · R-CA
U.S. Representative - CA District 9 · D-CA
U.S. Representative - NE District 2 · R-NE
+ 104 more cosponsors
Roll-call vote
The vote, by member
The vote, by member
VERSION CHANGES
What changed,
and where.
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Bill Metadata
| Congress | 119 |
| Bill Type | HR |
| Bill Number | 1340 |
| Origin Chamber | House |
| Current Status | Referred to the House Committee on Ways and Means. |
| Policy Area | Taxation |
| Primary Committee | Not assigned |
| Introduced | February 13, 2025 |
| Latest Action | February 13, 2025 |
| Cosponsors | 116 · House vote — · — views |