The main purpose of this legislative proposal is to make homeownership more affordable by changing how capital gains from the sale of homes are taxed. Specifically, it aims to allow homeowners to exclude all profits from the sale of their primary residence or homes sold to first-time buyers from their taxable income. Key provisions of the proposal include the removal of existing dollar limits on the exclusion of gains from the sale of a principal residence. Currently, homeowners can exclude up to $250,000 in gains ($500,000 for married couples) if they meet certain criteria.