A Republican bill with no cosponsors
Last activity — Read twice and referred to the Committee on Finance.
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 Homeowners Premium Tax Reduction Act of 2025 aims to amend the Internal Revenue Code of 1986. It proposes to create a new "above the line" deduction for certain homeowners insurance premiums. This deduction would apply to annual policy premiums paid for an individual's principal residence. The deduction is capped at $10,000 per taxable year. These changes would apply to taxable years ending after the Act is enacted.
Yes· 3 of 6
- Scored +5
Would people in middle age be better off under this?
Middle-aged homeowners can benefit from the new deduction for their principal residence insurance.
- Scored +5
Would people over 65 be better off under this?
Seniors who own their principal residence can utilize this tax deduction.
- Scored +5
Would middle-income households be better off under this?
The bill provides tax relief specifically for homeowners through an above-the-line deduction.
The opposite
- Scored -2
Does this reduce what the federal government spends?
Providing a new tax deduction reduces federal tax revenue.
Who it would affect, and how
Potential Positive Impacts for People
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Tax Relief for Homeowners: Individuals can claim a deduction for annual policy premiums paid for homeowners insurance on their principal residence, which may reduce their taxable income (Section 2, Subsection a).
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Specific Deduction Cap: The bill allows for a deduction of qualified insurance premiums up to a limit of $10,000 (Section 2, Subsection a).
Potential Negative Impacts for People
- No specific negative impacts or burdens are explicitly stated in the provided text.
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 people in middle age be better off under this? — Middle-aged homeowners can benefit from the new deduction for their principal residence insurance. Would middle-income households be better off under this? — The bill provides tax relief specifically for homeowners through an above-the-line deduction. Would people over 65 be better off under this? — Seniors who own their principal residence can utilize this tax deduction. Would high-income households be better off under this? — High-income earners who own homes can use the deduction to reduce their adjusted gross income.
- Economy And Finance
- Does this cut taxes for middle-income families? — The bill provides an above-the-line deduction for homeowners insurance premiums which lowers taxable income for many households. Does this reduce what the federal government spends? — Providing a new tax deduction reduces federal tax revenue.
- Social Issues And Justice
- Does this make housing cost less? — The deduction reduces the net cost of homeownership by offsetting insurance premium expenses.
- 1/8/2025
- Read twice and referred to the Committee on Finance.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.