Trump Considers Eliminating Capital Gains Tax on Homes | JQJO

President Trump suggested eliminating capital gains taxes on home sales, prompting Rep. Marjorie Taylor Greene's support. This could impact homeowners exceeding the $250,000 (single) or $500,000 (joint) exemption thresholds. Currently, those exceeding these limits pay long-term capital gains tax, the rate depending on income. A recent study suggests millions of homeowners could benefit, disproportionately wealthier, older individuals. The proposal's impact on the national deficit remains unclear, given recent legislation increasing it by $3.4 trillion.