HR 3098
118th Congress
House
Taxation
SALT Fairness and Deficit Reduction Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 5, 2023
Introduced in House
May 5, 2023
Referred to the House Committee on Ways and Means.
Plain-English summary
SALT Fairness and Deficit Reduction Act
This bill increases the limitation on the tax deduction for state and local taxes to $60,000 (the limit is currently $10,000 for individual taxpayers). The bill also requires an annual inflation adjustment to the increased amount beginning after 2023, and extends through 2032 the period during which the limitation is in effect.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1