Bill · H.R. 9555· House(119-HR-9555)
Home Mortgage Interest Credit Act of 2026
- Introduced
- 6/30/2026
- Last activity
- 7/14/2026 — Sponsor introductory remarks on measure. (CR H4413)
- Sponsored by
- George Latimer
- Cosponsors
- None
- Introduced
What this bill would do
This bill, titled the "Home Mortgage Interest Credit Act of 2026," proposes an amendment to the Internal Revenue Code of 1986. It seeks to allow a tax credit for qualified residence interest paid or accrued during a taxable year. Qualified interest includes debt used to acquire, construct, or improve a taxpayer's principal residence, including certain refinanced debt. The credit is subject to specific dollar limits and income thresholds. These changes are intended to take effect for taxable years beginning after December 31, 2026.
Yes· 3 of 4
Would middle-income households be better off under this?+5
The bill offers a tax credit for mortgage interest that benefits many middle-income homeowners.
Does this cut taxes for middle-income families?+5
The bill provides a tax credit for interest paid on principal residences, which benefits many middle-income families.
Does this make housing cost less?+3
The credit can be used for debt used to acquire, construct, or improve a principal residence.
The opposite
Would high-income households be better off under this?-2
The credit is phased out for taxpayers with modified adjusted gross income exceeding specific thresholds.
Does this reduce what the federal government spends?-2
Providing a new tax credit reduces federal tax revenue.
Who it would affect, and how
Potential Positive Impacts for People
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Tax Credit for Homeowners: Taxpayers can receive a credit against their taxes for interest paid on debt used to buy, build, or improve their principal residence, as well as certain refinanced debt (Section 2(b)).
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Inflation Adjustments: Starting after 2027, the dollar amounts used for credit limits and income thresholds will be increased based on cost-of-living adjustments (Section 2(e)).
Potential Negative Impacts for People
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Credit Caps: The total credit is limited to $2,000 per year, and this amount is reduced to $1,000 for married individuals who file separate returns (Section 2(c)(1)).
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Income Limitations: The credit amount is reduced based on the taxpayer's modified adjusted gross income once it exceeds certain thresholds, such as $300,000 for joint returns (Section 2(c)(2)).
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Co-ownership Restrictions: For unmarried individuals sharing a residence, the total credit for the household cannot exceed $2,000, and the amount must be allocated among them (Section 2(c)(1)).
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Ineligibility for Certain Groups: Nonresident aliens are not eligible to receive this credit (Section 2(f)).
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Prevention of Double Benefits: A taxpayer cannot claim both this credit and another deduction for the same qualified residence interest (Section 2(d)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Middle Class Households+5Good For Low Income Households+2Good For High Income Households-2
- Economy And Finance
- Reduces Middle Class Taxes+5Reduces Government Spending-2
- Social Issues And Justice
- Improves Affordable Housing+3
- 7/14/2026
- Sponsor introductory remarks on measure. (CR H4413)
- 6/30/2026
- Referred to the House Committee on Ways and Means.
- Introduced in House