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Lawmakers look to expand capital gains tax exemptions as housing prices soar

A congressional bill seeks to increase the number of homes for sale by doubling the exclusions from capital gains tax.

The number of homes on the market is a third below normal in Southern California mainly because of high mortgage rates. But some believe capital gains taxes also contribute to a shortage of homes for sale. (File photo by Joe Raedle/Getty Images)
The number of homes on the market is a third below normal in Southern California mainly because of high mortgage rates. But some believe capital gains taxes also contribute to a shortage of homes for sale. (File photo by Joe Raedle/Getty Images)
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A congressional bill would double the current capital gains exclusion. Some say this will help boost the inventory of homes for sale.

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