The housing market has major problems and I have a bill to help unlock inventory and allow Americans selling their primary home to keep the equity they’ve earned instead of having to pay an unfair penalty - 20% capital gains tax. 1 in 3 American homeowners has built up more equity than the federal capital gains tax exclusion for single filers protects. That means nearly 29 MILLION households could face a tax of up to 20% on the profit from their home sale—simply for staying put and watching their home values rise. With high inflation and high cost of living, you shouldn’t have to pay HIGH taxes on the home equity you earned! HIGH TAXES are UN-AMERICAN and honestly UNFAIR! For many seniors, who would pay $50,000 to $100,000 or even more in Capital Gains taxes, my bill would allow them to KEEP THEIR MONEY and finally sell their home. We can easily pass my bill, No Tax On Home Sales Act, by putting it in the next recision package that will be signed into law by President Trump! Imagine this paired with lower interest rates and many Americans will finally be able to sell their home, keep the equity they’ve earned, and new and younger buyers will have the opportunity to realize the American dream of owning their own home! This is a WIN WIN!!!