Bill > HR7216

This bill, known as the Make American Housing Affordable (MAHA) Act of 2026, proposes to amend the Internal Revenue Code of 1986 to create a new "Housing Affordability Credit." This credit would allow eligible individuals to receive a $5,000 tax credit, or $10,000 for those filing jointly, when they purchase a principal residence, which is defined as the home where an individual lives most of the time. To qualify, an individual must not have received this credit in the four preceding taxable years. The bill also includes a phaseout provision where the credit amount is reduced if an individual's modified adjusted gross income (which is their adjusted gross income plus certain foreign income exclusions) exceeds $250,000 for individuals or $500,000 for joint filers. This new credit would be effective for taxable years beginning after the bill is enacted.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/7216/all-info