U.S. President Donald Trump said on Tuesday that his administration is considering eliminating capital gains taxes on the sale of homes.
“If the Fed would lower the rates, we wouldn’t even have to do that,” Trump told reporters in the Oval Office. “But we are thinking about no tax on capital gains on houses.”
Currently, profits from selling homes — like other asset sales — are subject to capital gains taxes, though significant exemptions apply to the sale of primary residences.
Republican Rep. Marjorie Taylor Greene took Trump’s comments as a nod to her proposed legislation, the No Tax on Home Sales Act, which would eliminate the federal capital gains tax on primary home sales altogether.
“Thank you, President Trump, for supporting my No Tax on Home Sales Act!” Greene wrote in a post on X (formerly Twitter). “You worked for it. You should keep it. Let’s get this bill passed!”
The announcement follows recent congressional approval of legislation that locks in the broad tax cuts first passed in 2017 during Trump’s initial term. That law also delivered on Trump’s campaign pledges to create new tax breaks — including those for tips, overtime pay, senior citizens, and auto loans.
Trump’s political opponents argue the tax measures disproportionately benefit the wealthy and will add trillions to the national debt, partially offset by major cuts to healthcare and social programs for low-income Americans.