(The Epoch Times)—President Donald Trump is considering supporting a bill to eliminate the capital gains tax on home sales. Trump has spoken favorably about the proposal on two separate occasions this month, saying that ending the levy would create sufficient incentives for homebuyers to list their properties for sale.
Earlier this month, Rep. Marjorie Taylor Greene (R-Ga.) introduced the No Tax on Home Sales Act—H.R. 4327. The bill would adopt similar housing policies to those in Canada and Switzerland, aiming to increase housing supply.
Under Greene’s legislative initiative, any profit, no matter how large, would be tax-free if the home was a primary residence.
“The capital gains tax on home sales is an outdated, unfair burden—especially in today’s housing market, where values have skyrocketed. My bill fixes that,” she said.
With Congress in recess, the bill has yet to have any hearings or markups, and it is unclear how much congressional support the legislation can garner.
- Read More: theepochtimes.com
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