Do you think congress may have forgotten how their job works? Like I remember learning the importance of congress in middle school. Power of purse and all that. Why is the congress petitioning the president for legislation? Can we please replace the congressmen who don’t understand what their job description is? Every day in the news its just “Legislator asking someone else to do their job” “Legislature confused on how laws are made” “legislator claiming the presidents office is just better at making laws”
If the sale results in less than $250k in profit it’s already tax free. It goes up to $500k for joint filers. This doesn’t help the average person, just like eliminating the inheritance tax wouldn’t help us either.
Yea that’s a tax break that does help the “middle class” even tho home ownership is being denied to more and more of them. They need to raise the standard deduction to the median wage and make the rich people shoulder the tax burden created. I’d bet they’d be more frugal if they weren’t finding new ways to tax the poor to cover the spending.