Make the American Dream Real Again Act

This bill would create a new refundable federal tax credit for people who sell their main home to a first-time homebuyer and pay some of that buyer's home purchase costs, such as the down payment, inspection costs, or closing costs. The credit would equal the smaller of two amounts: what the seller paid toward the buyer's costs, or the amount the seller's taxes would go down if the gain from the home sale were not counted as income. A first-time homebuyer is defined as someone who, along with any spouse, did not own a main home during the two years before the sale. The Treasury Department would issue rules to carry out the credit, which would apply to tax years beginning after December 31, 2026.

Full text and official record on Congress.gov

Sponsors

• Eric Burlison Republican sponsor
• 1 cosponsors