summary
Introduced
12/10/2019
12/10/2019
In Committee
12/11/2019
12/11/2019
Crossed Over
01/03/2020
01/03/2020
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
Restoring Tax Fairness for States and Localities Act Restoring Tax Fairness for States and Localities Act This bill increases the tax deduction for state and local taxes in 2019 to $20,000 for persons filing a joint tax return if the adjusted gross income of the taxpayer does not exceed $100 million. It eliminates the current $10,000 cap on the deduction in 2020 and 2021 except for taxpayers whose adjusted gross income exceeds $100 million. The bill increases the deduction for the expenses of elementary and secondary school teachers from $250 to $1.000. It also allows a deduction from gross income (above-the-line deduction) for expenses of first responders, up to $1,000, for tuition or fees for professional development courses related to service as a first responder or for uniforms used by first responders. The bill defines "first responder" as any individual employed as a law enforcement officer, firefighter, paramedic, or emergency medical technician for at least 1,000 hours during the taxable year. The bill increases the top marginal income tax rate to 39.6% beginning in 2020, and reduces the dollar amount at which the increased tax rate begins.
AI Summary
This bill makes several key changes to the U.S. tax code:
1. In 2019, it increases the deduction for state and local taxes (the SALT deduction) from $10,000 to $20,000 for married taxpayers filing jointly, if their adjusted gross income does not exceed $100 million.
2. In 2020 and 2021, it eliminates the $10,000 cap on the SALT deduction, except for taxpayers with adjusted gross income over $100 million.
3. It increases the maximum deduction for expenses of elementary and secondary school teachers from $250 to $1,000.
4. It creates a new above-the-line deduction of up to $1,000 for expenses of first responders, such as tuition for professional development courses or uniforms.
5. It raises the top marginal individual income tax rate from 37% to 39.6% starting in 2020, and reduces the income threshold at which that higher rate applies.
Committee Categories
Budget and Finance
Sponsors (53)
Tom Suozzi (D)*,
Don Beyer (D),
Brendan Boyle (D),
Anthony Brown (D),
Sean Casten (D),
Judy Chu (D),
Gil Cisneros (D),
Lou Correa (D),
Joe Courtney (D),
Angie Craig (D),
Danny Davis (D),
Susan Davis (D),
Rosa DeLauro (D),
Eliot Engel (D),
Anna Eshoo (D),
Adriano Espaillat (D),
Jimmy Gomez (D),
Vicente Gonzalez (D),
Josh Harder (D),
Brian Higgins (D),
Jared Huffman (D),
Andy Kim (D),
Peter King (R),
Raja Krishnamoorthi (D),
John Larson (D),
Mike Levin (D),
Ted Lieu (D),
Nita Lowey (D),
Tom Malinowski (D),
Sean Maloney (D),
Gregory Meeks (D),
Grace Meng (D),
Joe Morelle (D),
Jerry Nadler (D),
Eleanor Holmes Norton (D),
Frank Pallone (D),
Jimmy Panetta (D),
Bill Pascrell (D),
Dean Phillips (D),
Katie Porter (D),
Jamie Raskin (D),
Kathleen Rice (D),
Max Rose (D),
Linda Sánchez (D),
Brad Schneider (D),
Mikie Sherrill (D),
Albio Sires (D),
Jackie Speier (D),
Mike Thompson (D),
David Trone (D),
Lauren Underwood (D),
Bonnie Watson Coleman (D),
Jennifer Wexton (D),
Last Action
Received in the Senate and Read twice and referred to the Committee on Finance. (on 01/03/2020)
Official Document
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