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With U.S. home prices having soared over the years, many homeowners looking to sell now find themselves in position to pay capital gains tax. But President Donald Trump is floating a plan to eliminate this tax specifically on home sales.At a White House Q&A on July 22, a reporter asked Trump for his view on scrapping the tax to help “unleash” the housing market.Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's howI'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast)Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do itShop Top Mortgage Rates“We’re thinking about that,” Trump replied. “But [we] would also unleash it just by lowering the interest rates. If the Fed would lower the rates, we wouldn't even have to do that. But we are thinking about no tax on capital gains on houses.”Currently, if you’ve owned your primary home for at least two years and sell it with a capital gain, the IRS allows you to exclude up to $250,000 ($500,000 for joint filers) of the taxable gain. But that exclusion was set back in 1997 — when home prices were substantially lower.Trump’s comment followed U.S. Rep. Marjorie Taylor Greene’s recent introduction of the “No Tax on Home Sales Act,” a bill that would eliminate federal capital gains taxes on the sale of primary residences altogether.“Thank you, President Trump, for supporting my No Tax on Home Sales Act!” Greene posted on X after his remarks. “You worked for it. You should keep it. Let’s get this bill passed!”Trump also took aim at the Federal Reserve during his chat with the press, blaming high interest rates for locking would-be buyers out of the housing market — and placing the blame squarely on Fed Chair Jerome Powell.“[Powell] is too late all the time,” Trump said. “He should have lowered interest rates many times. Europe lowered their rate 10 times. We lowered ours none. And it’s causing a problem for people who want to buy a home.”The Fed has been holding its benchmark interest rate steady at 4.25-4.50%, while Trump has said that rates should be three percentage points lower to help the economy.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,351.75 -22.50 (-0.35%)Dow Futures44,133.00 -172.00 (-0.39%)Nasdaq Futures23,270.50 -94.50 (-0.40%)Russell 2000 Futures2,211.50 -8.70 (-0.39%)VIX16.72 +1.24 (+8.01%)Gold3,343.20 -5.40 (-0.16%)PortfolioSign in to access your portfolioSign inTop gainersNEGG Newegg Commerce, Inc. 63.79 +18.82 (+41.85%)APLD Applied Digital Corporation 13.14 +3.11 (+31.01%)FRGE Forge Global Holdings, Inc. 21.92 +5.10 (+30.32%)AMSC American Superconductor Corporation 56.85 +12.91 (+29.38%)PI Impinj, Inc. 154.58 +32.37 (+26.49%)Top losersALGN Align Technology, Inc. 129.01 -74.56 (-36.63%)CFLT Confluent, Inc. 17.73 -8.68 (-32.86%)BAX Baxter International Inc. 21.76 -6.29 (-22.42%)SPSC SPS Commerce, Inc. 108.87 -30.69 (-21.99%)KEX Kirby Corporation 95.31 -24.69 (-20.58%)Most activeNVDA NVIDIA Corporation 177.87 -1.40 (-0.78%)APLD Applied Digital Corporation 13.14 +3.11 (+31.01%)NIO NIO Inc. 4.8700 +0.3600 (+7.98%)SOFI SoFi Technologies, Inc. 22.58 +0.71 (+3.25%)F Ford Motor Company 11.07 +0.20 (+1.84%)Earnings eventsTrending tickersFIG Figma, Inc. 115.50 +82.50 (+250.00%)AAPL Apple Inc. 207.57 -1.48 (-0.71%)AMZN Amazon.com, Inc. 234.11 +3.92 (+1.70%)RDDT Reddit, Inc. 160.59 +11.26 (+7.54%)COIN Coinbase Global, Inc. 377.76 +0.28 (+0.07%)Top economic eventsPowered by Money.com - Yahoo may earn commission from the links above.