Trump Weighs Ending Capital Gains Tax on Homes

President Donald Trump has announced that his administration is considering eliminating capital gains taxes on home sales to boost the housing market, especially as mortgage rates remain high. Trump suggested the measure might not be necessary if the Federal Reserve reduces interest rates, but discussions about the policy are continuing. The proposal mirrors Representative Marjorie Taylor Greene’s No Tax on Home Sales Act, which would repeal federal capital gains taxes on primary residences and has received Trump’s public support. Most homeowners are currently exempt from capital gains taxes on home sale profits up to $250,000 ($500,000 for married couples), but rising home prices mean more sellers are affected. Critics argue that the change would chiefly benefit wealthier Americans and could increase the national debt. Any such policy would require Congressional approval.