Washington, Oct. 28 -- Congressman Mike Lawler issued the following press release:
Washington, D.C. - 10/28/26. Last week, Congressman Mike Lawler and Congressman Josh Gottheimer ( NJ-05) introduced the bipartisan American Home Mobility Act, legislation designed to help increase housing mobility by making it easier for long-term homeowners to relocate without an immediate tax burden. Under current federal law, the tax-deferral benefit for the like-kind exchanges applies to investment or business real estate, not personal residences.
"Across the Hudson Valley and throughout the country, many long-term homeowners remain in homes that no longer fit their needs because moving can trigger a substantial tax liability. At the same time, families...