HR 3098 United States House · 118th Congress

SALT Fairness and Deficit Reduction Act

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.

Issues: ✓ Budget & Taxes

Sub-Topics: Income Tax

Bill status in committee 1 of 4 stages cleared

Introduction

May 2023

Committee Review

Floor Vote

President

Introduced May 5, 2023 Last action May 5, 2023

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

May 5, 2023

Committee

Referred to the House Committee on Ways and Means.

lower

May 5, 2023

Introduced

Introduced in House

lower

1 primary · 3 co-sponsors