summary
Introduced
01/31/2024
01/31/2024
In Committee
01/31/2024
01/31/2024
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to modify the limitation on the amount certain married individuals can deduct for State and local taxes.
AI Summary
This bill, the SALT Marriage Penalty Elimination Act, amends the Internal Revenue Code to modify the limitation on the amount certain married individuals can deduct for state and local taxes (SALT). Specifically, for joint tax returns filed for taxable years between 2023 and 2024, if the taxpayer's adjusted gross income is less than $500,000, the SALT deduction limit is increased from $10,000 to $20,000. This change aims to eliminate the "marriage penalty" that previously existed for married couples filing jointly under the SALT deduction rules.
Committee Categories
Budget and Finance
Sponsors (9)
Mike Lawler (R)*,
Anthony D'Esposito (R),
Andrew Garbarino (R),
Mike Garcia (R),
Andy Harris (R),
Tom Kean (R),
Young Kim (R),
Nick LaLota (R),
Marc Molinaro (R),
Last Action
Rules Committee Resolution H. Res. 994 Reported to House. Rule provides for consideration of H.R. 7160 and H. Res. 987. The resolution provides for consideration of H.R. 7160 and H. Res. 987 under a closed rule with one hour of debate on each measure. The resolution provides for a motion to recommit on H.R. 7160. (on 02/05/2024)
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/118th-congress/house-bill/7160/all-info |
| BillText | https://www.congress.gov/118/bills/hr7160/BILLS-118hr7160ih.pdf |
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