Millions of homeowners could finally get a tax break that’s been frozen since 1997

A bipartisan bill aims to double the capital gains tax exclusion for home sellers, increasing it from $250,000 to $500,000 for singles and from $500,000 to $1 million for married couples. This change, frozen since 1997 despite rising home prices, could encourage longtime homeowners to sell, boosting housing inventory and addressing affordability concerns. The bill has gained support from about one-third of Congress.