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H.R. 2624: SALT Relief and Marriage Penalty Elimination Act of 2019


The text of the bill below is as of May 9, 2019 (Introduced).


I

116th CONGRESS

1st Session

H. R. 2624

IN THE HOUSE OF REPRESENTATIVES

May 9, 2019

(for herself, Ms. Stefanik, Mr. Cisneros, and Mr. King of New York) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to increase the limitation on the deduction for State and local taxes.

1.

Short title

This Act may be cited as the SALT Relief and Marriage Penalty Elimination Act of 2019.

2.

Increase in limitation on deduction for State and local taxes

(a)

In general

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 an amount equal to the basic standard deduction in effect with respect to the taxpayer for the taxable year under paragraph (2) of section 63(c) (determined after the application of paragraph (7) and without regard to paragraphs (5) and (6) of such section).

(b)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2018.