Thomas Kean
01/28/2026 | Press release | Distributed by Public on 01/28/2026 12:14
Kean Introduces Legislation to Establish Housing Affordability Tax Credit
(January 28, 2026) WASHINGTON, D.C. - Today, Congressman Tom Kean, Jr. announced the introduction of the Make American Housing Affordable (MAHA) Act, legislation that makes the dream of homeownership more attainable by creating a new tax credit for Americans purchasing their primary home.
The bill, co-led by Congressman Ryan Mackenzie (PA-07), establishes a new tax credit of $5,000 for individual filers earning under $250,000 when purchasing their primary residence. Joint filers earning under $500,000 would receive up to $10,000. The tax credit phases out proportionally for incomes exceeding the thresholds, with eligibility ending at $300,000 for individual filers and $600,000 for joint filers. A homeowner may claim this credit once every five years.
"The goal of homeownership is part of the American Dream which has become increasingly difficult for middle-class families to reach," said Congressman Kean. "Today's buyers are facing skyrocketing prices, steep down payments, and a shortage of inventory. In New Jersey, where we have some of the nation's highest housing prices and property taxes, working families are being locked out of the market. I believe this new tax credit will lower the barrier to entry, restore opportunity, and strengthen the path to homeownership for American families."
"Housing affordability is one of the top concerns of families across the Lehigh Valley and the Poconos. After enduring years of skyrocketing housing costs, first-time homebuyers deserve relief. That's why this legislation provides targeted tax relief to help make homeownership a reality for hardworking families," said Congressman Mackenzie. "I'm grateful to Rep. Kean for leading this commonsense approach to decrease the cost of buying a home."
The legislation comes as housing affordability reaches a crisis point. According to the National Association of Realtors, the median age of first-time home buyers hit an all-time high of 40 years old in 2025- with their share of the market at a record low of 21%, For all buyers, the median age has also climbed to 59 years old.
Congressman Kean has led efforts to address housing affordability in the U.S. House of Representatives, including the successful fight to restore the full State and Local (SALT) Deduction for middle-class families in New Jersey. In the 2025 Reconciliation package, Congressman Kean fought to quadruple the SALT deduction to $40,000-a major victory for New Jersey homeowners.
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