Bill

Bill > HR2555


US HR2555

US HR2555
SALT Deductibility Act Securing Access to Lower Taxes by ensuring Deductibility Act


summary

Introduced
04/10/2023
In Committee
04/10/2023
Crossed Over
Passed
Dead
01/03/2025

Introduced Session

118th Congress

Bill Summary

A BILL To amend the Internal Revenue Code of 1986 to repeal the limitation on the deduction for certain taxes, including State and local property and income taxes.

AI Summary

This bill, known as the SALT Deductibility Act or the Securing Access to Lower Taxes by ensuring Deductibility Act, aims to amend the Internal Revenue Code of 1986 by repealing the limitation on the deduction for certain taxes, including state and local property and income taxes. The bill would allow taxpayers to fully deduct these state and local taxes, which were previously capped at $10,000 per year under the Tax Cuts and Jobs Act of 2017. The amendment made by this bill would apply to taxable years beginning after December 31, 2022.

Committee Categories

Budget and Finance

Sponsors (54)

Andrew Garbarino (R)* Jake Auchincloss (D),  Suzanne Bonamici (D),  Julia Brownley (D),  Salud Carbajal (D),  Sean Casten (D),  Judy Chu (D),  Gerry Connolly (D),  Joe Courtney (D),  Angie Craig (D),  Anthony D'Esposito (R),  Danny Davis (D),  Anna Eshoo (D),  Bill Foster (D),  Mike Garcia (R),  Jimmy Gomez (D),  Josh Gottheimer (D),  Jahana Hayes (D),  Jared Huffman (D),  Tom Kean (R),  Andy Kim (D),  Young Kim (R),  Raja Krishnamoorthi (D),  Nick LaLota (R),  Mike Lawler (R),  Mike Levin (D),  Zoe Lofgren (D),  Betty McCollum (D),  Rob Menendez (D),  Grace Meng (D),  Marc Molinaro (R),  Joe Morelle (D),  Kevin Mullin (D),  Jerry Nadler (D),  Donald Norcross (D),  Eleanor Holmes Norton (D),  Frank Pallone (D),  Jimmy Panetta (D),  Donald Payne (D),  Dean Phillips (D),  Katie Porter (D),  Mike Quigley (D),  Jamie Raskin (D),  Pat Ryan (D),  Linda Sánchez (D),  Brad Schneider (D),  Brad Sherman (D),  Mikie Sherrill (D),  Chris Smith (R),  Eric Swalwell (D),  Emilia Sykes (D),  Paul Tonko (D),  David Trone (D),  Bonnie Watson Coleman (D), 

Last Action

Referred to the House Committee on Ways and Means. (on 04/10/2023)

bill text


bill summary

Loading...

bill summary

Loading...
Loading...