The Republican Study Committee (RSC), made up of conservative U.S. House members, has released its framework for a new budget reconciliation bill. Included in the RSC’s Making the American Dream Affordable Again framework are items that address the U.S. housing shortage. The proposal would eliminate capital gains tax on sales of homes to first-time homebuyers and of rental homes to tenants and bar non-permanent residents from claiming the Low-Income Housing Credit. Meanwhile, U.S. Senate Democrats have announced their Opportunity Starts at Home housing plan. It would promote rent relief, construction of new housing and tax incentives for converting commercial property.
