H.R. 6608, known as the “End Hedge Fund Control of American Homes Act,” seeks to amend the Internal Revenue Code of 1986 to impose excise taxes on hedge funds that do not sell excessive single-family residences they own. The bill introduces a tax on the acquisition of single-family residences...
Simple Explanation
H.R. 6608 is a bill that wants big companies, like hedge funds, to sell off some of the houses they own so more families can buy them. If they don't sell these houses, they have to pay a big tax, and this tax money will help families buy homes by giving them extra money for things like the down payment.