Bill · H.R. 9978· House(119-HR-9978)
Homeowners Premium Tax Reduction Act of 2026
- Introduced
- 7/30/2026
- Last activity
- 7/30/2026 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Gus Bilirakis
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill, titled the "Homeowners Premium Tax Reduction Act of 2026," aims to change the Internal Revenue Code of 1986. It proposes creating a new deduction for certain homeowners insurance premiums. This deduction would be an "above the line" deduction for individuals. The deduction is limited to annual policy premiums paid for homeowners insurance on an individual's principal residence. The maximum amount allowed for this deduction is $10,000.
Yes· 3 of 10
Would middle-income households be better off under this?+5
The deduction offers significant tax relief for many middle-class homeowners.
Does this cut taxes for middle-income families?+5
The deduction provides tax relief for homeowners which primarily benefits middle-class households.
Would people in middle age be better off under this?+3
Middle-aged adults are more likely to be homeowners benefiting from the tax deduction.
The opposite
Does this reduce what the federal government owes?-1
The deduction may slightly increase the federal deficit by reducing tax revenue.
Does this make the government pay for what it commits to?-1
Providing new deductions generally reduces fiscal efficiency by lowering tax receipts.
Who it would affect, and how
Potential Positive Impacts for People
- Tax Deduction for Homeowners: Under Section 2, subsection (a), individuals can claim a deduction for qualified insurance premiums paid or incurred during the taxable year. This provides a financial benefit by allowing a deduction of up to $10,000 for annual policy premiums on a principal residence.
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
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 Middle Aged+3Good For Retirees+3Good For Seniors+3Good For High Income Households+2Good For Low Income Households+2
- Economy And Finance
- Reduces Middle Class Taxes+5Improves Economic Growth+1Improves Fiscal Responsibility-1Reduces National Debt-1
- Social Issues And Justice
- Improves Affordable Housing+1Improves Poverty Reduction+1
- 7/30/2026
- Referred to the House Committee on Ways and Means.
- Introduced in House
3 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.