US EditionUS considering removing tax on capital gains on home sales, Trump says
UNITED STATES, JUL 22 – Trump says interest rate cuts are needed before removing capital gains tax on home sales, which affects about 13 million households, according to the National Association of Realtors.
- President Trump stated he is considering eliminating the capital gains tax on home sales, which would significantly benefit sellers.
- A Georgia GOP Congressperson introduced a bill in Congress to eliminate the capital gains tax on home sales.
- Single tax-filers can exclude up to $250,000 in capital gains when selling homes, with joint filers able to exclude up to $500,000.
- Trump believes eliminating this tax would help the housing market and stated, 'Families who work hard, build equity and sell their homes should not be punished with massive tax bills.
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Trump Considering Eliminating Capital Gains Tax on Houses
President Donald Trump has confirmed that he is considering abolishing the capital gains tax on houses. “We’re thinking about that,” Trump said on July 22 when asked if the administration is considering removing the tax to improve the U.S. housing market. The president added that the Federal Reserve would “unleash” the real estate market by lowering interest rates. “If the Fed would lower the [interest] rates, we wouldn’t even have to do that,” …
·New York, United States
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Coverage Details
Total News Sources44
Leaning Left9Leaning Right13Center8Last UpdatedBias Distribution43% Right
Bias Distribution
- 43% of the sources lean Right
43% Right
L 30%
C 27%
R 43%
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