S.Amdt. 2448

This amendment aims to add new homeownership provisions that target hedge fund taxpayers who acquire certain single-family residences.

Specifically, the amendment aims to change the law by adding:

• A 15 percent excise tax on the purchase price of any newly acquired single-family residence bought by a hedge fund taxpayer.
• A 5 percentage point increase to the corporate tax rate for applicable hedge fund taxpayer corporations.
• Disallowance of certain tax deductions for hedge fund taxpayers, including mortgage interest deductions, depreciation deductions, and qualified business income deductions related to single-family residences.