New tax credit helps homeowners pay less in taxes.
H.R. 9555 — Home Mortgage Interest Credit Act of 2026 · Filed by George Latimer (D-NY) · Introduced Jun 30, 2026 · Referred to committee
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What it does
The bill creates a tax credit for homeowners. The credit is up to $2,000 per year for people who pay mortgage interest on their main home. Married couples filing separately get up to $1,000 per year. The credit starts to go away for people earning more than $300,000 per year. Homeowners cannot use both this new credit and the old mortgage interest deduction. The credit starts for taxes filed after December 31, 2026.
Who it affects
Homeowners who pay mortgage interest on their main home get the credit. The credit helps middle-to-upper-income homeowners the most. Renters and lower-income households do not get this credit.
One thing to notice
The bill replaces an old tax break with a new one. Some homeowners will pay less tax, and some will pay more.
From the analysis of the bill text, linked under Primary records below.
Where it stands
- Jun 30, 2026 — Introduced · Congress.gov: “Introduced in House”
- Jun 30, 2026 — Referred to House Committee on Ways and Means · Congress.gov: “Referred to the House Committee on Ways and Means”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- tax credit — Money the government gives back to reduce what you owe in taxes.
- mortgage interest — The extra money homeowners pay to borrow money to buy a home.
- mortgage interest deduction — An old tax break that lets homeowners subtract mortgage interest from taxes.
How this was measured
Analysis — Quorum's AI read the full bill text on Jul 6, 2026; transparency and hidden-provision scores are compared against the median of 14,707 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-09-23.
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