Bennet promises to support legislation to amend the tax code to increase the capital gains exclusion for home sales to $500,000 for single filers and $1 million for joint filers in order to incentivize homeowners to sell, increase housing market supply, and improve affordability.

This bill addresses this problem and updates outdated tax rules so more homes can come on the market and more Coloradans can find a place to call their own. ... The More Homes on the Market Act would increase the exclusion to $500,000 for single filers and $1 million for joint filers, making it more financially desirable for homeowners to sell and increasing housing turnover.

Bennet and colleagues introduced a bill to amend the tax code by increasing the capital gains exclusion on home sales, aiming to encourage more homeowners to sell, thereby boosting housing availability and affordability.

Cornyn, Bennet, Colleagues Introduce Bill to Increase Housing Availability and Affordability | Senator Cornyn
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