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To amend the Internal Revenue Code of 1986 to increase the exclusion of gain from the sale of a principal residence, and for other purposes.
Summary
This bill increases the amount of capital gains that homeowners can exclude from taxation when selling their principal residence. Under current law, single filers can exclude $250,000 and married filers filing jointly can exclude $500,000 in gains; this bill would double those amounts to $500,000 and $1,000,000 respectively. Beginning in 2026, these exclusion amounts would be adjusted annually for inflation and rounded to the nearest $100. The changes would apply to home sales and exchanges after the bill is enacted.
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)
- Sen. Cornyn, John [R-TX] (R-TX)
20 cosponsors
- Sen. Banks, Jim [R-IN] (R-IN)
- Sen. Barrasso, John [R-WY] (R-WY)
- Sen. Bennet, Michael F. [D-CO] (D-CO)
- Sen. Boozman, John [R-AR] (R-AR)
- Sen. Capito, Shelley Moore [R-WV] (R-WV)
- Sen. Coons, Christopher A. [D-DE] (D-DE)
- Sen. Cotton, Tom [R-AR] (R-AR)
- Sen. Cramer, Kevin [R-ND] (R-ND)
- Sen. Daines, Steve [R-MT] (R-MT)
- Sen. Fischer, Deb [R-NE] (R-NE)
- Sen. Graham, Lindsey [R-SC] (R-SC)
- Sen. Hyde-Smith, Cindy [R-MS] (R-MS)
- Sen. Kelly, Mark [D-AZ] (D-AZ)
- Sen. Kennedy, John [R-LA] (R-LA)
- Sen. Lee, Mike [R-UT] (R-UT)
- Sen. Marshall, Roger [R-KS] (R-KS)
- Sen. Moran, Jerry [R-KS] (R-KS)
- Sen. Risch, James E. [R-ID] (R-ID)
- Sen. Schiff, Adam B. [D-CA] (D-CA)
- Sen. Wicker, Roger F. [R-MS] (R-MS)
Money behind the sponsor
Top reported contributors to John Cornyn’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- CAPITAL GROUP $22,500
- ANDREESSEN HOROWITZ $16,500
- PALANTIR TECHNOLOGIES $13,686
- WINKLEVOSS CAPITAL MANAGEMENT $13,200
- BLACKSTONE $12,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for John Cornyn → · Outside spending →
Actions (2)
- Dec 3, 2025 Read twice and referred to the Committee on Finance. · senate
- Dec 3, 2025 Introduced in Senate
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 SENATE OF THE UNITED STATES
December 3, 2025
Mr. Cornyn (for himself, Mr. Bennet, Mr. Daines, Mr. Schiff, Mr. Barrasso, and Mr. Kelly) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to increase the exclusion of gain from the sale of a principal residence, 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 “More Homes on the Market Act”.
SEC. 2. INCREASE OF EXCLUSION OF GAIN FROM SALE OF PRINCIPAL RESIDENCE.
(a) In General.—Section 121(b) of the Internal Revenue Code of 1986 is amended—
(1) by striking “$250,000” and inserting “$500,000” each place it appears,
(2) by striking “500,000” and inserting “$1,000,000” each place it appears,
(3) in paragraph (2)(A), in the heading, by striking “$500,000” and inserting “$1,000,000”, and
(4) by adding at the end the following new paragraph:
“(5) Adjustment for inflation.—In the case of a taxable year beginning after 2025, the $500,000 and $1,000,000 amounts in paragraphs (1), (2), and (4) shall each be increased by an amount equal to—
“(A) such dollar amount, multiplied by
“(B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting ‘2024’ for ‘2016’ in subparagraph (A)(ii) thereof. If any increase under this clause is not a multiple of $100, such increase shall be rounded to the next lowest multiple of $100.”.
(b) Effective Date.—The amendments made by this section shall apply to sales and exchanges after the date of the enactment of this Act. <all>
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