SALT Relief Act

Bill: 118-hr-1260
Sponsor: full_name: Rep. Santos, George [R-NY-3]
Introduced: 2023-02-28
Policy area: Taxation
Latest action: action_date: 2023-02-28
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2023-02-28
action_desc: Introduced in House
text: <p><strong>SALT Relief Act </strong></p> <p>This bill increases from $10,000 to $50,000 the amount that an individual taxpayer may deduct as state and local taxes.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 1260 IN THE HOUSE OF REPRESENTATIVES February 28, 2023 Mr. Santos introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to increase the limitation on the deduction for State and local taxes.

1. Short title This Act may be cited as the SALT Relief Act . 2. Increase in limitation on deduction for State and local taxes (a) In general Section 164(b)(6)(B) of the Internal Revenue Code of 1986 is amended by striking $10,000 ($5,000 and inserting $50,000 ($25,000 . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2022.