CONGRESS FOR VOTERS

DemocratBill · H.R. 1745· House(119-HR-1745)

HOPE for Homeownership Act

Rep. Smith
Age: 61 years
Washington
Introduced
2/27/2025
Last activity
2/27/2025 — Referred to the House Committee on Ways and Means.
Sponsored by
Adam Smith
Cosponsors
Democrat - 8Republican - 0
Taxation
  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the "HOPE for Homeownership Act," seeks to amend the Internal Revenue Code of 1986. It imposes an excise tax on hedge fund taxpayers who acquire new single-family residences. Additionally, it imposes a tax on applicable taxpayers who fail to reduce their number of owned single-family residences over a set period of years. The legislation also disallows deductions for mortgage interest and depreciation for certain covered taxpayers. The stated goal is to address the ownership of excess single-family residences by these entities.

Yes· 3 of 6

  • Does this raise the taxes companies pay?+7

    The bill imposes new excise taxes on hedge fund taxpayers and other applicable entities acquiring or holding excess single-family residences.

  • Does this make housing cost less?+5

    The bill incentivizes large-scale investors to sell single-family residences, potentially increasing the supply of homes for individual buyers.

  • Would middle-income households be better off under this?+4

    The bill aims to reduce competition from large hedge funds, potentially making homeownership more accessible for middle-class families.

The opposite

  • Would business owners be better off under this?-4

    Large real estate investment entities face significant new taxes and the loss of mortgage interest and depreciation deductions.

  • Would high-income households be better off under this?-3

    The tax and loss of deductions specifically target wealthy institutional investors and large-scale property holders.

  • Is this likely to grow the economy?-2

    The new taxes and loss of deductions on residential real estate holdings may discourage investment in the housing market.