Revitalizing America’s Housing Act
Congress Proposes Major Housing Bill to Cut Taxes for Home Sellers and Boost National Supply
Legislative Progress
Key Points
- The bill doubles the amount of profit homeowners can keep tax-free when they sell their house, raising the limit to $500,000 for individuals and $1 million for married couples to encourage more people to put their homes on the market.
- It creates a new tax credit to encourage builders to fix up or build homes in neighborhoods that need more investment, helping families buy and own homes in areas that have been overlooked.
- Local governments would be encouraged to change their rules to allow more types of housing, such as duplexes, small backyard houses, or turning old offices into apartments, to help increase the total number of homes available.
- The plan offers lower rent in public housing for police officers, firefighters, and EMTs, and it makes it easier for veterans and first responders to get loans and discounts when buying a home.
- New safety rules would require better tracking of lead pipes and lead paint in government-assisted housing, along with a major national effort to research and teach people about the health dangers of indoor mold.
- The bill would stop federal funding for cities that allow 'squatting,' which it defines as people living in a property for 14 days or more without the owner's permission or a rental agreement.
Impact Analysis
Personal Impact
Life & Work
The rescission of HUD's Public and Indian Housing Notice 2021-18 could roll back guidance that encouraged public housing agencies to reconsider blanket bans on applicants with criminal records. This could make it harder for people with past convictions to access public housing in some jurisdictions.
Programs
Disabilities
State Impacts
Milestones
Referred to the Subcommittee on Economic Opportunity.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Oversight and Government Reform, Energy and Commerce, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
3 articlesLawler's in on a housing bill that seeks to expand supply, lower costs. What would it do?
Rep. Mike Lawler introduced a 120-page housing package that doubles the tax exemption for home sales to $1 million for couples and creates a pilot program to sell unused federal properties for affordable housing. The bill aims to expand supply and make public housing safer.
Trump can still do more to address affordability
The article highlights the Revitalizing America's Housing Act as a key reform to increase housing supply by designing model zoning codes and doubling the capital gains tax exclusion for home sales to break the 'lock-in' effect for seniors.
NY Rep. Introduces Multifaceted Housing Plan Bipartisan Reforms Would 'Incentivize Construction, Reduce Unaffordability'
Rep. Mike Lawler's plan incorporates elements of the Neighborhood Homes Investment Act to incentivize construction in distressed areas and reduce regulatory barriers to affordable housing through bipartisan reforms.
Source Information
Document Type
Congressional Bill
Official Title
Revitalizing America’s Housing Act
Data Sources
Sponsor
Analysis generated by AI. Always verify with official sources.