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Permanent Tax Exemption for Forgiven Mortgage Debt

This act aims to permanently exclude forgiven mortgage debt from taxable income, meaning citizens whose home loan debt is partially cancelled by a bank will not have to pay taxes on that amount. This change could provide financial relief to individuals facing hardship whose mortgage debt is reduced.
Key points
Individuals whose principal residence mortgage debt is forgiven will not pay taxes on that amount.
This change is permanent and applies to debts discharged after December 31, 2025.
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Status:
Introduced
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Additional Information
Mortgage Debt Tax Forgiveness Act of 2025
Print number: HR 917
Sponsor: Rep. Brownley, Julia [D-CA-26]
Process start date: 2025-02-04
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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Summary & Status

Key Questions about Permanent Tax Exemption for Forgiven Mortgage Debt

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 917.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-02-04.

What are the main provisions?

Key points include:

  • Individuals whose principal residence mortgage debt is forgiven will not pay taxes on that amount.
  • This change is permanent and applies to debts discharged after December 31, 2025.

What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Brownley, Julia [D-CA-26].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

Analysis and Potential Impact of HR 917

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Taxes Real Estate