Clinton’s 1997 home-sale tax cut grew out of a 1996 campaign promise.

Evidence

Section 121 was amended several times over the next couple of decades. The age was lowered to fifty-five, the exclusion raised to $125,000. Then, at the 1996 Democratic National Convention, President Bill Clinton changed the game. As he accepted his party’s nomination, he promised: “Tonight I propose a new tax cut for homeownership that says to every middle income working family in this country, if you sell your home, you will not have to pay a capital gains tax on it ever, not ever.” — Dorothy A. Brown, The Whiteness of Wealth, 195

Categorization

Category: Factual Claims