HR 7051 · 119th Congress

American Dream Act

This bill creates a new tax break for seniors who sell their homes to help first-time homebuyers. Here's how it works: if you're 65 or older and sell your house to someone buying their first home, you won't have to pay federal income taxes on the profit from that sale—but only if the house sells for $500,000 or less…

Sponsor

McGuire, John J. (R-Virginia)

Introduced

2026-01-14

Policy area

Taxation

Latest action

Referred to the House Committee on Ways and Means.