A bipartisan proposal to increase the capital gains tax exclusion on the sale of a primary residence continues to gain momentum in Congress. The More Homes on the Market Act would raise the exclusion to $500,000 for individual filers and $1 million for married couples filing jointly, while also indexing the amounts for inflation. The bill recently added new co-sponsors in both the House and Senate, bringing total support to 174 lawmakers. Advocates say the measure could encourage more homeowners to sell, potentially increasing housing inventory.
