Talking to journalists at the common base of Andrews over the weekend, President Trump Expressed support for a bill that would eliminate the fee of federal capital for homeowners.
The SCI account was delivered last week Member of the Republican Congress Marjorie Taylor Greenewho called it “a gift to the people of America.” Asked about journalist legislation after participating in 2025 In the Club World Cup competition in Eastern Rutherford, NJ, Trump agreed that reform needed.
“We look at it,” the short replied. “It can be very big positive. I think it will be a great incentive for most people who really need money.”
No longer be able to share a home sale law
Greene’s tax on the Home Sale Act NO tax, and the expense will eliminate the federal capital increase tax on the sale of the original residence.
Recorded as a homeowner’s reform, the bill aims to strengthen housing equipment by abolishing what Green calls one of the biggest deterrent measures, selling: Fear of losing a large share of profits.
“I just think it is a great gift for American people, and it is very important what we were founded,” Green told Realtor.com in an exclusive interview.
‘[Homeowners] Get so much fine [by capital gains taxes] Because of the big capital acquired, ”she says.
Data supports the claim: about 1 in 3 homeowners – nearly 29 million households – have created more equity in America than removal of federal capital increases separately. Cause? Removal of capital gains – $ 250,000 for persons and $ 500,000 for couples – since 1997. Did not change. During that time, housing prices rose more than 260% across the country, and what was once a generous bumper to a narrow limit. As home values continue to increase, more medium vendors are unexpectedly exhibited.
According to the latest analysis of the National Realtors® Association, by 2030. This number is expected to increase to 56% of homeowners.
Achievement of capital increases in taxes in these states the most difficult
The hardest persons are homeowners who have stayed for the longest time, especially in states where the value of the property has increased in recent years.
Hawaii exceeds the list: Almost 79% of homeowners can affect the $ 250,000 removal limit, while the average capital gain is more than 409,000.
Washington follows closely – almost 65% of homeowners risk.
By comparison, Western Virginia and Mississippi see the slightest effect, and less than 8% of homeowners can be exposed. In Greene’s native Georgia state, slightly more than 31% exceeds the limit.
The bill is expected to allow millions of long -term homeowners to use their property – as long as they actually lived at home.
“It’s not home loads. It’s for people selling their main residences … And they will have to keep their money, keep their property,” says Greene.
Another jab Powell
Trump was also asked about his constant criticism Federal Reserve Bank and Chairman Jerome PowellIncluding whether he thinks Powell should withdraw. He repeated his disapproval.
“We should be at the lowest interest rate on Earth, and we do not do so,” Trump said Trump said before paying attention to the Fed 2.5 billion dollars.
It seemed that the central bank was quietly responding shortly after his comments, renewing the “often asked questions” of the section to defend the decision on its site.
“This includes complete overhaul and modernization, which preserves two historical buildings that have not been fully renovated from their construction in the 1930s,” the Fed wrote.