A bill to provide a permanent deduction for State and local general sales taxes.

Bill: 114-s-126
Sponsor: full_name: Sen. Heller, Dean [R-NV]
Introduced: 2015-01-08
Policy area: Taxation
Subjects: Income tax deductions

Sales and excise taxes

State and local taxation
Latest action: action_date: 2015-01-08
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2015-01-08
action_desc: Introduced in Senate
text: <p>Amends the Internal Revenue Code to make permanent the taxpayer election to deduct state and local general sales taxes in lieu of state and local income taxes. </p>

tv_txt: II 114th CONGRESS 1st Session S. 126 IN THE SENATE OF THE UNITED STATES January 8, 2015 Mr. Heller (for himself, Ms. Cantwell , Mr. Enzi , Mr. Thune , Mr. Cornyn , Mrs. Murray , Mr. Nelson , and Mr. Alexander ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To provide a permanent deduction for State and local general sales taxes.

1. Permanent extension of deduction for State and local general sales taxes (a) In general Subparagraph (I) of section 164(b)(5) of the Internal Revenue Code of 1986, as amended by section 105 of the Tax Increase Prevention Act of 2014, is amended by striking , and before January 1, 2015 . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2014.