Pipeline · Bill → Law
Step 1
Introduced
Jan 9, 2025
Step 2
Referred
Jan 9, 2025
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill increases the limitation on the federal tax deduction for state and local taxes (commonly known as the SALT deduction cap) to $15,000 ($30,000 for married individuals filing a joint federal income tax return). Under current law, the SALT deduction cap is $10,000 ($5,000 for a married individuals filing separate federal income tax returns).
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Timeline · 2 actions
Jan 9, 2025
Introduced in House
Jan 9, 2025
Referred to the House Committee on Ways and Means.