Mortgage Debt Tax Forgiveness Act of 2025 has not moved since its introduction on Feb 4, 2025, with no cosponsors
IntroducedFeb 4, 2025
Reported—
Passed one chamber—
Passed both—
Law—
What it changes · CRS summary
Written by the Congressional Research Service [2]. 95 words.
Mortgage Debt Tax Forgiveness Act of 2025 This bill makes permanent the exclusion of the discharge of qualified principal residence indebtedness from gross income for federal tax purposes. Under current law, a taxpayer may generally exclude from gross income up to $750,000 (or $375,000 if married but filing a separate federal tax return) from the discharge of indebtedness that is (1) incurred to purchase, build, or substantially improve a principal residence (or refinance such indebtedness); and (2) secured by the principal residence. The discharge must currently occur before January 1, 2026, and some limitations apply.
Context
- Committees
- House Ways and Means Committee
- Policy area
- Taxation: 20 of 6,214 bills became law, 113th–118th (0.3%)
- Sponsor
- 4 of 277 bills enacted since 2013
- Text versions
- 1: introduced in house · 78 words
- Latest action
- Feb 4, 2025: Referred to the House Committee on Ways and Means.
- Records
- Congress.gov · Bill text
Exhibit 1Passage odds band at each stage, rated when the bill reached it [4]
Related bills · 0
The bill status record lists no related bills.
Exhibit 2Articles naming the bill per day, last 90 days, US sources [3]