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Sen. Merkley Introduces HOPE for Homeownership Act

Bailey Malota

WASHINGTON, March 17 -- Sen. Jeff Merkley, D-OR, has introduced the HOPE for Homeownership Act, aimed at imposing an excise tax on hedge fund acquisitions of single-family residences. The bill seeks to address rising housing costs and promote equitable homeownership by targeting the investment activities of hedge funds, which some argue contribute to the housing affordability crisis.

The proposed legislation would implement a 15 percent tax on hedge funds acquiring single-family hom . . .

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