{"database": "press", "table": "releases", "rows": [["https://www.bennet.senate.gov/2025/12/03/bennet-cornyn-bipartisan-colleagues-introduce-bill-to-increase-housing-availability-and-affordability/", "Bennet, Cornyn, Bipartisan Colleagues Introduce Bill to Increase Housing Availability and Affordability", "2025-12-03", "2025", "2025-12", "Democrat", "Senate", "CO", "Michael F. Bennet", "B001267", "www.bennet.senate.gov", "bennet", "https://www.bennet.senate.gov/news/page/", "scraper", "Washington, D.C. \u2014 U.S. Senator Michael Bennet (D-Colo.) joined U.S. Senator John Cornyn (R-Texas) and bipartisan Senate colleagues to introduce the More Homes on the Market Act. This bill will make housing more available and affordable by amending the tax code to allow sellers to exclude additional funds from capital gains taxes, incentivizing homeowners to sell their homes and increasing market supply.\n\n\u201cToo many families in Colorado struggle to find affordable homes in their communities that meet their needs. At the same time, seniors are struggling to sell their homes for fear of a massive tax bill,\u201d said Bennet. \u201cThis bill addresses this problem and updates outdated tax rules so more homes can come on the market and more Coloradans can find a place to call their own.\u201d\n\n\u201cThe American dream is rooted in owning a home and raising a family, but an outdated tax code not only prevents the next generation from being able to afford a home, but it also prevents seniors seeking to downsize from selling theirs,\u201d said Cornyn. \u201cThis legislation would update the tax code to incentivize sellers and make homes more affordable, and I\u2019m glad to support it.\u201d\n\nThe current tax code allows homeowners who sell their primary home to exclude $250,000 in gains from capital gains taxes, or $500,000 in the case of a couple filing jointly. However, this exclusion has not been updated since 1997, nor is it indexed for inflation. Because of this, millions of homeowners in Colorado and across the country face overly burdensome taxes from the sale of their homes, leading many homeowners \u2013 especially seniors who have lived in their home for decades \u2013 to choose not to sell. The More Homes on the Market Act would increase the exclusion to $500,000 for single filers and $1 million for joint filers, making it more financially desirable for homeowners to sell and increasing housing turnover.\n\nThe legislation is endorsed by the National Association of Realtors and AARP.\n\nIn addition to Bennet and Cornyn, U.S. Senators Steve Daines (R-Mont.), Adam Schiff (D-Calif.), John Barrasso (R-Wyo.), and Mark Kelly (D-Ariz.) cosponsored the bill.\n\nThe text of the bill is available HERE.\n\n###", 1, "2026-03-30T01:40:41Z", "2026-04-06T20:09:11Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.bennet.senate.gov/2025/12/03/bennet-cornyn-bipartisan-colleagues-introduce-bill-to-increase-housing-availability-and-affordability/"], "units": {}, "query_ms": 2.225358970463276, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}