H.R. 7216 — Make American Housing Affordable (MAHA) Act of 2026

This section establishes a new Housing Affordability Credit of $5,000 ($10,000 in the case of a joint return) against income tax for an eligible individual who purchases a principal residence (i.e., as defined in IRC §121 for purposes of the gain exclusion) during the taxable year and with respect to whom no credit was allowed under this section during the prior four taxable years. The credit phases out for modified adjusted gross income over $250,000 ($500,000 joint), reduced by the amount which bears the same ratio to $50,000 ($100,000 joint) as such excess income; the provision applies to taxable years beginning after enactment.