Reduce Taxes That Raise Cost of Owning a Home

Inflation is pricing many citizens out of the housing market. Home prices have increased more than 50% since the start of the pandemic. The median age of first-time home buyers is 41, the highest on record.

There is a simple solution to the housing crisis. President Trump has floated the idea of eliminating capital gains on home sales. A more ambitious agenda would eliminate capital gains taxes on owner occupied homes entirely. This is in fact what Canada has done, homeowners in Canada are exempt from paying tax on the profit from the sale of an owner-occupied home.