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Mortgage Debt Tax Forgiveness Act of 2025
To amend the Internal Revenue Code of 1986 to make permanent the exclusion from gross income of discharge of qualified principal residence indebtedness.
Summary
This bill makes permanent a current tax rule that allows homeowners to exclude forgiven mortgage debt from their taxable income when their primary residence debt is discharged. Currently, this exclusion is temporary and set to expire. The bill removes the expiration date, making the exclusion permanent for mortgage debt discharged after December 31, 2025.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
Money behind the sponsor
Top reported contributors to Julia Brownley’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $9,600
- HAAS AUTOMATION $9,100
- SPARAGNA & SPARAGNA $6,600
- HACKMAN CAPITAL $6,600
- UNITED STAFFING ASSOCIATES $6,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Julia Brownley → · Outside spending →
Actions (2)
- Feb 4, 2025 Referred to the House Committee on Ways and Means. · house
- Feb 4, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
February 4, 2025
Ms. Brownley 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 make permanent the exclusion from gross income of discharge of qualified principal residence indebtedness.
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 “Mortgage Debt Tax Forgiveness Act of 2025”.
SEC. 2. PERMANENT EXTENSION OF EXCLUSION FROM GROSS INCOME OF DISCHARGE OF QUALIFIED PRINCIPAL RESIDENCE INDEBTEDNESS.
(a) In General.—Section 108(a)(1)(E) of the Internal Revenue Code of 1986 is amended by striking “which is discharged” and all that follows and inserting a period.
(b) Effective Date.—The amendment made by this section shall apply to indebtedness discharged after December 31, 2025. <all>
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