H. R. 1757
IN THE HOUSE OF REPRESENTATIVES
March 14, 2019
Ms. Underwood (for herself and Mr. Casten of Illinois) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to increase the limitation on the amount individuals can deduct for certain State and local taxes.
Increase in limitation on deduction for certain State and local taxes of individuals
Section 164(b)(6)(B) of the Internal Revenue Code of 1986 is amended by striking
$10,000 ($5,000 in the case of a married individual filing a separate return) and inserting
$15,000 (twice such amount in the case of a joint return).
Section 164(b) of such Code is amended by adding at the end the following new paragraph:
In the case of any taxable year beginning after December 31, 2019, the $15,000 amount in paragraph (6)(B) shall be increased by an amount equal to—
such dollar amount, multiplied by
the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting
calendar year 2018 for
calendar year 2016 in subparagraph (A)(ii) thereof.
The amendments made by this section shall apply to taxable years beginning after December 31, 2018.