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Roll Call

Jacob Fulton

Momentum builds for bigger capital gains tax break on home sales - Roll Call

Roll Call John Cornyn capital gains GA Ken Paxton Wesley Hunt Inflation Republican Party the National Association of Realtors

Bipartisan support is growing in both the House and Senate to double the capital gains tax exemption for home-sale profits.

Sen. John Cornyn, R-Texas, who faces a potentially tough reelection battle next year, introduced bipartisan legislation Wednesday that would increase the exemptions, which currently stand at $250,000 for individuals and $500,000 for married couples. The caps would increase to $500,000 and $1 million, respectively.

The draft bill is also backed by Sens. Michael Bennet, D-Colo.; Adam B. Schiff, D-Calif.; Mark Kelly, D-Ariz.; John Barrasso, R-Wyo.; and Steve Daines, R-Mont.

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