Middle Class Home Tax Elimination Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7131 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7131 To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 16, 2026 Mr. Fitzgerald introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Middle Class Home Tax Elimination Act''. SEC. 2. ELIMINATION OF DOLLAR LIMITATIONS ON EXCLUSION OF GAIN FROM SALES OF PRINCIPAL RESIDENCES. (a) In General.--Section 121(b) of the Internal Revenue Code of 1986 is amended-- (1) by striking…