summary
Introduced
04/08/2021
04/08/2021
In Committee
04/08/2021
04/08/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to increase the limitation on the amount individuals can deduct for certain State and local taxes.
AI Summary
This bill, the SALT Fairness for Working Families Act, proposes to increase the limitation on the amount individuals can deduct for certain state and local taxes (SALT) on their federal income tax returns. Specifically, it would raise the current $10,000 cap ($5,000 for married filing separately) to $15,000 ($30,000 for joint returns) and provide for annual inflation adjustments to this new limit. The changes would apply to taxable years beginning after December 31, 2020, providing a more generous SALT deduction for individual taxpayers.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to the House Committee on Ways and Means. (on 04/08/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/2439/all-info |
| BillText | https://www.congress.gov/117/bills/hr2439/BILLS-117hr2439ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr2439/BILLS-117hr2439ih.pdf.pdf |
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