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H.R. 7051

U.S. House•In House Committee

Summary

H.R. 7051, the American Dream Act, was introduced in the House on Jan 14, 2026 by Rep. John McGuire (R) with 12 co-sponsors. It was referred to Ways And Means, and last saw action on Jan 14, 2026: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 7051 has 12 co-sponsors.

hb7051/introduced-in-house.txt
119 HR 7051 IH: American Dream Act
 U.S. House of Representatives
 2026-01-14
 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. 7051  IN THE HOUSE OF REPRESENTATIVES   January 14, 2026   Mr. McGuire  (for himself,  Mr. Barrett ,  Mr. Stauber ,  Mr. Stutzman ,  Mr. Schmidt ,  Mr. Mackenzie ,  Mr. Hamadeh of Arizona ,  Mrs. Miller-Meeks , and  Mrs. Cammack ) 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 exclude from gross income gains on the sale of real property to first-time homebuyers by individuals who have attained age 65.
1.
Short title
This Act may be cited as the   American Dream Act  .
2.
Exclusion from gross income of gains on the sale of real property to first-time homebuyers by individuals who have attained age 65
(a)
In general
Part III of subchapter B of  chapter 1  of the Internal Revenue Code of 1986 is amended by inserting after section 121 the following new section:
121A.
Exclusion of gain from sale of real property to first-time homebuyers by individuals who have attained age 65
(a)
In general
In the case of an individual, gross income shall not include gain from the sale of real property if—
(1)
the taxpayer (either spouse in the case of a joint return) has attained age 65 as of the date of such sale,
(2)
such sale is to a first-time homebuyer for use as such first-time homebuyer’s principal residence (within the meaning of section 121),
(3)
the price at which such real property is sold does not exceed $500,000, and
(4)
the closing documents with respect to such sale include a statement by the buyer made under penalty of perjury that such buyer is a first-time homebuyer and is purchasing such property for use as such buyer’s principal residence (within the meaning of section 121).
(b)
First-Time homebuyer
For purposes of this section, the term  first-time homebuyer  means any individual if such individual, or such individual’s spouse, has not had a present ownership interest in a principal residence (within the meaning of section 121) at any time prior to the date of the sale to which this section applies.
(c)
Coordination with exclusion of gain from sale of principal residence
Section 121 shall not apply to any sale to which subsection (a) applies.
(d)
Termination
This section shall not apply to any sale after December 31, 2031.
 .
(b)
Clerical amendment
The table of sections for part III of subchapter B of chapter 1 of such Code is amended by inserting after the item relating to section 121 the following new item:
Sec. 121A. Exclusion of gain from sale of real property to first-time homebuyers by individuals who have attained age 65.
  .
(c)
Effective date
The amendments made by this section shall apply to sales after December 31, 2026, in taxable years ending after such date.

Tracker

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

  1. Introduced2026-01-14
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

To amend the Internal Revenue Code of 1986 to exclude from gross income gains on the sale of real property to first-time homebuyers by individuals who have attained age 65.

Sponsors

Rep. John McGuire (R) sponsors H.R. 7051, and 12 members have co-sponsored it, 8 of them from the day it was introduced.

Committees

H.R. 7051 went before 1 committee: Ways and Means.

Ways and Means
Ways and Means
Referred To · Jan 14, 2026 · 1,160 Bills

Actions

H.R. 7051 has taken 2 actions since Jan 14, 2026.

ChamberAction
Jan 14, 2026
House
Introduced in House
Jan 14, 2026
House
Referred to the House Committee on Ways and Means.Ways and Means Committee

Votes

H.R. 7051 has not gone to a roll call.

Titles

H.R. 7051 goes by 3 titles, 1 of them short titles.

  • American Dream Act — Display Title
  • American Dream Act — Short Title(s) as Introduced
  • To amend the Internal Revenue Code of 1986 to exclude from gross income gains on the sale of real property to first-time homebuyers by individuals who have attained age 65. — Official Title as Introduced

Lobbying

1 client hired 1 firm and 25 registered lobbyists who named H.R. 7051 in 1 quarterly filing, 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Banking, Budget/Appropriations, Civil Rights/Civil Liberties, Consumer Issues/Safety/Products, Environment/Superfund, Financial Institutions/Investments/Securities, Housing, Immigration.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
NATIONAL ASSOCIATION OF REALTORS—District of Columbia11—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
NATIONAL ASSOCIATION OF REALTORS11—

Lobbyists

Named on the filings that cite the bill. The 20 named most often, of 25.

LobbyistFirmsClientsFilings
ALEXIA SMOKLER111
AUSTIN PEREZ111
BRYAN GREENE111
CAITLIN VANNOY111
COLETTE MASSENGALE111
ELAYNE WEISS111
ERIN STACKLEY111
EVAN LIDDIARD111
HELEN DEVLIN111
JOSEPH HARRIS111
KATHRYN CRENSHAW111
KEISHA WILKINSON111
KEN FEARS111
MATTHEW EMERY111
MATTHEW STROSS111
MYA WALKER111
NAJEE BAILEY111
NIA DUGGINS111
NICOLE LINDLER111
REBECCA WRIGHT111

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
NATIONAL ASSOCIATION OF REALTORSNATIONAL ASSOCIATION OF REALTORS2026 second_quarter$14.6M2nd Quarter - Report

Classification

The Congressional Research Service files H.R. 7051 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 7051’s is Taxation.

hr7051/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. 7051, as entered in the Congressional Record.

[Congressional Record Volume 172, Number 10 (Wednesday, January 14, 2026)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. McGUIRE:H.R. 7051.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8[Page H894]

Source: congress.gov · legiscan.com