H.R. 4740 · 115th Congress
SALT Deductibility Act
- Stage
- In committee
- Sponsor
- Nita Lowey
- Introduced
- 2018-01-08
- Latest action
- 2018-01-08 · Introduced in House
Summary
Securing Access to Lower Taxes by ensuring Deductibility Act or the SALT Deductibility Act
This bill amends the Internal Revenue Code to repeal the limitation on individual deductions for certain state and local taxes. (For tax years 2018-2025, the deduction for certain state and local taxes is currently limited to $10,000 per year for individuals or $5,000 for married individuals filing a separate return.)