Sponsors (80)
Official title: To rescind certain immigration enforcement funds and amend the Internal Revenue Code to provide for new credits related to expanding access to housing.
Introduced December 3, 2025 by Jimmy Gomez · Last progress December 3, 2025
The bill shifts large unobligated border funds back to the Treasury while creating a suite of homebuyer, builder, conversion, and renter tax supports to expand affordable housing and tenant assistance — trading reduced border/immigration spending and increased program complexity and fiscal cost for expanded housing subsidies and targeted deep-affordability measures.
First-time homebuyers (including first-generation buyers) can get up to $25,000 (or $50,000 for first-generation buyers) toward down payments/closing costs, with larger credits in high-cost areas, an option for upfront escrow transfer, and indexing for inflation after 2025 — lowering out‑of‑pocket barriers to homeownership.
Low-income renters who spend more than 30% of income on rent gain a refundable-like federal benefit, with option for monthly advance payments and payments targeted to local rents (HUD small-area FMR), improving monthly cash flow and lowering rent burdens.
The bill rescinds about $175.66 billion in unobligated border-related balances and returns funds to the Treasury, giving near-term federal budget flexibility and reducing planned outlays tied to those programs.
Border security and immigration enforcement funding is cut across multiple program lines (CBP/ICE hiring/training, state/local grants, detention capacity, DOJ/BOP training, DoD support), which is likely to reduce staffing, operational capacity, and reimbursements to jurisdictions handling migrants.
The new homebuyer, builder, conversion, LIHTC, and renter benefits increase federal spending and tax expenditures and could create net budgetary pressure or require offsets, partially offsetting the rescissions and raising deficit concerns.
The bill imposes substantial administrative, reporting, and monitoring burdens on IRS, lenders, state housing agencies, builders, and project owners (new escrow rules, lender reporting, allocation/reallocation rules, tenant-income monitoring, advance-payment systems), raising compliance costs and slowing program delivery.
Based on analysis of 7 sections of legislative text.
Rescinds $175.66B in border enforcement unobligated funds and creates multiple tax credits and allocations to expand affordable housing, help first-time buyers, and provide a renter tax credit with advance payments.
This bill redirects large amounts of previously approved border and immigration enforcement funding back to the Treasury and creates a package of housing tax incentives to expand affordable home construction, convert commercial buildings to affordable housing, subsidize first-time home purchases, and provide a refundable renter tax credit with an advance-payment option. It adds multiple new and amended Internal Revenue Code provisions, creates state allocation formulas for a construction credit, and funds IRS implementation and outreach.