In CommitteeFiled Jan 14, 2026
Sponsor: Rep. McGuire, John J. [R-VA-5] (R)
Latest Action
Referred to the House Committee on Ways and Means.
Jan 14, 2026
Summary
The American Dream Act lets individuals who are 65 or older exclude any profit from selling a house to a first‑time homebuyer from their taxable income, as long as the sale price is $500,000 or less. The buyer must certify under penalty of perjury that they have never owned a principal residence. The exclusion applies to sales after Dec. 31 2026 and ends after Dec. 31 2031.
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