SENATE 290115th CongressRead twice and referred to the Committee on Finance.

HOME Act

Last Action: 2/2/2017

Actions

2017-02-02Read twice and referred to the Committee on Finance.
2017-02-02Introduced in Senate

CRS Summary

As of 2017-02-02 (00)

Helping Our Middle-Class Entrepreneurs Act or the HOME Act

This bill amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business a standard tax deduction equal to the lesser of $1,500 or the taxpayer's gross trade or business income derived from the business use of such residence. The bill provides for an inflation adjustment to the standard deduction amount in calendar years beginning after 2017.

Cosponsors (1)

John Boozman (R-AR)

Subjects

Business investment and capital
Housing finance and home ownership
Income tax deductions
Inflation and prices

Read on Congress.gov

Sourced from Congress.gov (public domain).

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