A Democratic bill with 3 Democratic cosponsors · See all 3 cosponsors
Last activity — 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.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The Protecting American Homes from Hedge Funds Act creates an excise tax for certain fund managers who acquire or keep too many single-family residences. It imposes a 50 percent tax on the fair market value of newly acquired homes and a $50,000 tax for each "excess" home held beyond a decreasing yearly limit. Tax revenues are placed into a Housing Downpayment Trust Fund to provide grants for down payments and closing costs to low-to-moderate income families. Additionally, the bill removes mortgage interest and depreciation deductions for those liable under these taxes. It also prohibits Fannie Mae, Freddie Mac, and Ginnie Mae from supporting mortgages where the lender is a specified large investor.
Yes· 3 of 20
- Scored +9
Would households on low incomes be better off under this?
Provides grants for down payments and closing costs for those up to 120% area median income.
- Scored +9
Does this make housing cost less?
Directly targets institutional ownership to increase availability and provides grants for down payments.
- Scored +8
Would people in their twenties and thirties be better off under this?
Directly aids first-time homebuyers through the Housing Downpayment Trust Fund.
The opposite· 3 of 7
- Scored -10
Would billionaires be better off under this?
Heavily penalizes hedge fund operations involving residential real estate.
- Scored -9
Would the very wealthiest people be better off under this?
Significant tax penalties for large-scale ownership of single-family residences.
- Scored -8
Would people with substantial wealth be better off under this?
Targets individuals/entities with $50M+ in assets via excise taxes.
Who it would affect, and how
Potential Positive Impacts for People
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Down Payment Assistance: The bill establishes the Housing Downpayment Trust Fund to provide grants for down payments, closing costs, and interest rate buydowns for families with incomes up to 120 percent of the area median income (Section 3(b)(1)).
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Priority for Home Buyers: Individuals and families seeking assistance are given priority if they are buying a home sold by an "applicable taxpayer," potentially increasing the availability of homes for these buyers (Section 3(b)(2)).
Potential Negative Impacts for People
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Penalties for Buyers: Individuals who buy a home from an applicable taxpayer must provide a certification; if they provide a false certification, they are subject to a $50,000 penalty (Section 2(c)(2)(C) and Section 5000G(f)(2)).
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Reporting Burdens: The Secretary can require reporting on the dates residences were acquired and whether the person buying the home already owns other residences (Section 5000G(f)(1)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would households on low incomes be better off under this? — Provides grants for down payments and closing costs for those up to 120% area median income. Would people in their twenties and thirties be better off under this? — Directly aids first-time homebuyers through the Housing Downpayment Trust Fund. Would middle-income households be better off under this? — Increases home availability by penalizing institutional buyers. Would people in rural areas be better off under this? — Addresses rural housing affordability by limiting hedge fund acquisitions. Would people in cities be better off under this? — Addresses urban housing affordability by limiting hedge fund acquisitions. Would Black Americans be better off under this? — Down payment assistance can help historically marginalized groups enter homeownership. Would Hispanic Americans be better off under this? — Down payment assistance can help historically marginalized groups enter homeownership. Would people in middle age be better off under this? — Improves availability of single-family homes for purchase. Would Native Americans be better off under this? — Down payment assistance can help historically marginalized groups enter homeownership. Would Asian Americans be better off under this? — Increases availability of homes for families. Would white Americans be better off under this? — Benefits those seeking to buy single-family homes. Would children be better off under this? — Provides potential for more stable homeownership for families with children. Would billionaires be better off under this? — Heavily penalizes hedge fund operations involving residential real estate. Would the very wealthiest people be better off under this? — Significant tax penalties for large-scale ownership of single-family residences. Would people with substantial wealth be better off under this? — Targets individuals/entities with $50M+ in assets via excise taxes. Would business owners be better off under this? — Negatively impacts fund managers and real estate investors. Would high-income households be better off under this? — Increases taxes for those managing large funds and restricts certain mortgage interests.
- Social Issues And Justice
- Does this make housing cost less? — Directly targets institutional ownership to increase availability and provides grants for down payments. Is this likely to lift people out of poverty? — Provides financial assistance to low-to-moderate income families to achieve homeownership. Is this likely to reduce homelessness? — Increased housing availability and down payment assistance can reduce housing insecurity. Does this narrow racial gaps in how people are treated? — Assistance for low-to-moderate income families can help bridge the racial wealth gap in homeownership.
- Economy And Finance
- Does this raise taxes on the highest earners? — Targets high-net-worth fund managers and hedge funds with excise taxes and removal of tax deductions. Does this raise the taxes companies pay? — Imposes significant excise taxes on fund managers and hedge funds acquiring single-family homes. Is this likely to slow the rise in prices? — May reduce housing price inflation by discouraging large-scale institutional buying of single-family homes.
- Governance And Ideology
- Does this give the federal government more power? — Expands federal taxing authority and creates a federal trust fund for housing grants. Does this protect people from being watched or searched? — Requires reporting and certification from homebuyers regarding their ownership of other residences. Does this leave more decisions to the states? — Imposes federal mandates on housing ownership and tax structures.
- 7/13/2026
- 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.
- 3 Cosponsors added.
- Introduced in House
Ro KhannaDemocrat · California
Linda SánchezDemocrat · California
Nikema WilliamsDemocrat · Georgia