Rep. Goldman Introduces the Don’t Tax the American Dream Act

WASHINGTON, DC — This week, Congressman Craig Goldman (R-TX) introduced the Don't Tax the American Dream Act, legislation that would eliminate federal capital gains taxes on the sale of primary residences.

"Americans are overtaxed. The Don't Tax the American Dream Act repeals costly capital gains taxes on home sales so that Americans keep more of their hard-earned money," said Congressman Goldman. "Repealing these taxes will unleash the housing market and help restore the American Dream of homeownership."

The Don't Tax the American Dream Act would:

• Eliminate all federal capital gains taxes on primary residence sales after the homeowner has lived in the property for two years
• Increase the national housing supply
• Repeal costly taxes on American homeowners
• Restore the American Dream of homeownership by improving housing affordability

Background:
Tax filers can exempt up to $250,000 (individual) or $500,000 (married filing jointly) from capital gains taxes when selling a primary residence after living in it for at least two years. However, these exemption caps have remained unchanged since 1997, despite significant increases in home values. This policy discourages homeowners from selling, reducing housing supply and worsening affordability.

Read the full text of the legislation here.

To learn more about Congressman Goldman and follow his work, visit his website and follow him on social media at @RepCraigGoldman.

For media inquiries, please contact Sutton.Houser@mail.house.gov.

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