SALT Fairness and Marriage Penalty Elimination Act

Bill: 119-hr-232
Sponsor: full_name: Rep. Lawler, Michael [R-NY-17]
Introduced: 2025-01-07
Policy area: Taxation
Subjects: Income tax deductions

State and local taxation
Latest action: action_date: 2025-01-07
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2025-01-07
action_desc: Introduced in House
text: <p><strong>SALT Fairness and Marriage Penalty Elimination Act</strong></p><p>This bill increases the limitation on the federal tax deduction for state and local taxes (commonly known as the SALT deduction cap) to $100,000 ($200,000 for married individuals filing a joint federal income&nbsp;tax return).&nbsp;</p><p>Under current law, the SALT deduction cap is $10,000 ($5,000 for married individuals filing separate federal income tax returns).&nbsp;</p>

tv_txt: I 119th CONGRESS 1st Session H. R. 232 IN THE HOUSE OF REPRESENTATIVES January 7, 2025 Mr. Lawler 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 modify the limitation on the amount individuals can deduct for certain State and local taxes.

1. Short title This Act may be cited as the SALT Fairness and Marriage Penalty Elimination Act . 2. Modification of limitation on deduction for certain State and local taxes of individuals (a) In general Section 164(b)(6)(B) of the Internal Revenue Code of 1986 is amended by striking shall not exceed $10,000 ($5,000 in the case of a married individual filing a separate return). and inserting shall not exceed— (i) except as provided in clause (ii), $100,000, and (ii) in the case of a joint return, $200,000. . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2024.