Tax Deduction for Homeowners Insurance Premiums
A house committee must act next: committee consideration.
While the bill addresses a major concern for voters, tax cuts that reduce federal revenue often face a difficult path through a divided Congress without broad bipartisan support.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
Renters get no direct tax benefit from this bill since the deduction only applies to homeowners insurance on a principal residence that the taxpayer owns. Over time this could widen the gap in tax treatment between owning and renting a home, though renters are not directly harmed by the change.
“qualified insurance premiums' means annual policy premiums paid or incurred for homeowners insurance with respect to the principal residence of the individual.”
Referred to the House Committee on Ways and Means.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Sen. Rick Scott is reintroducing the Homeowners Premium Tax Reduction Act, which would provide an above-the-line tax deduction of up to $10,000 for insurance premiums on primary residences to help families offset skyrocketing costs.
Rep. Darren Soto (D-FL) joined a bipartisan effort to introduce the Homeowners Premium Tax Reduction Act, granting homeowners an above-the-line tax deduction of up to $10,000 annually for premiums paid on their primary residence.
The Homeowners Premium Tax Reduction Act (S. 35) remains a key focus for housing advocates in 2026, proposing a significant federal tax deduction to alleviate the burden of rising insurance premiums for millions of American homeowners.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
Homeowners Premium Tax Reduction Act of 2026
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