Search

Search bills, members, committees and pages...

Sign In

H.R. 7034

U.S. House•In House Committee

Summary

H.R. 7034, to amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes, was introduced in the House on Jan 13, 2026 by Rep. Craig Goldman (R) with 6 co-sponsors. It was referred to Ways And Means, and last saw action on Jan 13, 2026: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 7034 has 6 co-sponsors.

hb7034/introduced-in-house.txt
119 HR 7034 IH: To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes.
 U.S. House of Representatives
 2026-01-13
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS
  2d Session  H. R. 7034  IN THE HOUSE OF REPRESENTATIVES   January 13, 2026   Mr. Goldman of Texas  introduced the following bill; which was referred to the  Committee on Ways and Means    A BILL
To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes.
1.
Elimination of dollar limitations on exclusion of gain from sales of principal residences
(a)
In general
 Section 121(b)  of the Internal Revenue Code of 1986 is amended—
(1)
by striking paragraphs (1), (2), and (4), and
(2)
by redesignating paragraphs (3) and (5) as paragraphs (1) and (2), respectively.
(b)
Conforming amendments
Section 121(c) of such Code is amended—
(1)
in paragraph (1), by striking  , and subsection (b)(3)  and all that follows through  2 years  and inserting  , and subsection (b)(1), shall not apply , and
(2)
in paragraph (2)(A)(ii), by striking  subsection (b)(3)  and inserting  subsection (b)(1) .
(c)
Effective date
The amendments made by this section shall apply to sales and exchanges after the date of the enactment of this Act.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2026-01-13
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes.

Sponsors

Rep. Craig Goldman (R) sponsors H.R. 7034, and 6 members have co-sponsored it.

Committees

H.R. 7034 went before 1 committee: Ways and Means.

Ways and Means
Ways and Means
Referred To · Jan 13, 2026 · 1,160 Bills

Actions

H.R. 7034 has taken 2 actions since Jan 13, 2026.

ChamberAction
Jan 13, 2026
House
Introduced in House
Jan 13, 2026
House
Referred to the House Committee on Ways and Means.Ways and Means Committee

Votes

H.R. 7034 has not gone to a roll call.

2 bills are related to H.R. 7034.

Titles

H.R. 7034 goes by 2 titles.

  • To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes. — Official Title as Introduced
  • To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes. — Display Title

Classification

The Congressional Research Service files H.R. 7034 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 7034’s is Taxation.

hr7034/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 7034, as entered in the Congressional Record.

[Congressional Record Volume 172, Number 9 (Tuesday, January 13, 2026)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GOLDMAN of Texas:H.R. 7034.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H718]

Source: congress.gov · legiscan.com