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US HB7138
Bill
Status
1/16/2026
Primary Sponsor
Ro Khanna
Click for details
AI Summary
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Disallows tax deductions for mortgage interest, insurance, and depreciation on single-family homes (1-4 units) owned by investors with net assets exceeding $100 million
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Imposes an excise tax equal to 100% of the sale price when specified large investors sell or transfer single-family homes
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Prohibits Fannie Mae, Freddie Mac, and Ginnie Mae from purchasing, securitizing, or guaranteeing mortgages held by specified large investors
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Exempts government entities, 501(c)(3) nonprofits, federally-assisted housing, properties used as principal residences, and homes originally constructed or substantially rehabilitated by the investor
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Deposits excise tax revenue into the Housing Trust Fund to increase affordable rental housing for extremely low- and very low-income families, with provisions taking effect 18 months after enactment
Legislative Description
Stop Wall Street Landlords Act of 2026
Last Action
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
1/16/2026