The bill, titled the “Stop Wall Street Landlords Act of 2024,” seeks to amend the Internal Revenue Code of 1986 by preventing large investors from deducting certain expenses related to owning single-family homes. It introduces an excise tax on the sale or transfer of these homes by large...
Simple Explanation
The "Stop Wall Street Landlords Act of 2024" wants to stop really rich people from getting money back on taxes when they buy lots of houses, and instead, use the money to help people who need homes. It also says that big companies shouldn't get special help from the government when they buy house loans.