Sponsors (80)
Introduced December 3, 2025 by Jimmy Gomez · Last progress December 3, 2025
This bill trades a substantial near‑term reduction in unspent border and immigration outlays for a broad set of housing tax credits and renter subsidies intended to expand homeownership and deepen affordable housing—boosting housing assistance for many while raising long‑term federal costs, adding administrative complexity, and creating risks to border enforcement and local public‑safety capacity.
Taxpayers: Rescinds roughly $175.66 billion in unobligated border and immigration balances, lowering near‑term federal outlays and freeing room within budget caps if offsets are used.
Middle‑class and lower‑income first‑time buyers: Provides a refundable‑like homebuyer tax credit (up to about $25,000, with indexing and special higher amounts for some first‑generation/high‑cost purchases) and allows IRS escrow transfer to cover down payments/closing costs, lowering up‑front homebuying costs.
Low‑income renters: Creates a refundable‑style rent relief credit with monthly advance payments for eligible renters who pay over 30% of AGI, reducing monthly net housing costs and smoothing cash flow.
Communities and frontline agencies: Large rescissions for CBP/DHS reduce funding for personnel, infrastructure, technology, and detention—potentially degrading border screening, processing capacity, and operational readiness.
Immigrants, prosecutors, and the justice system: Major cuts to ICE hiring/training, detention capacity, Bureau of Prisons, and DOJ funding risk longer removal and case backlogs and constrain detention/prosecution capacity.
Local law enforcement and public safety: Reductions (e.g., Operation Stonegarden, state/local assistance, DOD border support, and training center rescissions) can weaken cross‑jurisdictional cooperation, local response capacity, and federal partner training.
Based on analysis of 7 sections of legislative text.
Rescinds $175.66B in unobligated border funds and creates multiple housing tax incentives and a renter credit to expand homebuying, starter-home construction, conversions to affordable housing, and deeper LIHTC targeting.
Rescinds about $175.66 billion in unobligated border and immigration-related funding from a prior law and uses federal tax law changes to promote housing affordability. It creates/expands multiple housing tax incentives — a first-time homebuyer credit (up to $25,000), a starter-home construction credit (15% or 30% for sales to first-time buyers), a 20% affordable housing conversion credit for converting commercial buildings to affordable rental housing, an enhanced Low-Income Housing Tax Credit for deeper-income units, and a new Renter Tax Credit with an optional monthly advance payment program. The bill also directs state housing agencies to allocate some credits, creates certification/recapture rules, and provides $50 million to the IRS for outreach and system changes.