S 3178
116th Congress
Senate
Taxation
Income tax deductions
Income tax rates
State and local taxation
Tax administration and collection, taxpayers
Tax treatment of families
Restoring Tax Fairness for States and Localities Act
Introduced: January 9, 2020
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 9, 2020
Read twice and referred to the Committee on Finance.
Jan 9, 2020
Introduced in Senate
Plain-English summary
Restoring Tax Fairness for States and Localities Act
This bill increases the tax deduction for state and local taxes in 2019 to $20,000 for persons filing a joint tax return. It eliminates the current $10,000 cap on the deduction in 2020 and 2021.
The bill increases the top marginal income tax rate to 39.6% beginning in 2020, and reduces the dollar amount at which the increased tax rate begins.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1