SQUEAL Act

Bill: 115-s-2033
Sponsor: full_name: Sen. Ernst, Joni [R-IA]
Introduced: 2017-10-31
Policy area: Taxation
Subjects: Business expenses

Income tax deductions

Members of Congress
Latest action: action_date: 2017-10-31
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2017-10-31
action_desc: Introduced in Senate
text: <p><b>Stop Questionable, Unnecessary, and Excessive Allowances for Legislators Act or the SQUEAL Act </b></p> <p>This bill amends the Internal Revenue Code to eliminate the deduction for living expenses incurred by Members of Congress. (Under current law, the deduction is limited to $3,000 per year.) </p>

tv_txt: II 115th CONGRESS 1st Session S. 2033 IN THE SENATE OF THE UNITED STATES October 31, 2017 Mrs. Ernst introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to eliminate the deduction for living expenses incurred by members of Congress.

1. Short title This Act may be cited as the Stop Questionable, Unnecessary, and Excessive Allowances for Legislators Act or the SQUEAL Act . 2. Elimination of deduction for living expenses incurred by members of Congress (a) In general Subsection (a) of section 162 of the Internal Revenue Code of 1986 is amended in the matter following paragraph (3) by striking in excess of $3,000 . (b) Effective date The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.