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H.R. 613: SALT Deductibility Act


The text of the bill below is as of Jan 28, 2021 (Introduced).


I

117th CONGRESS

1st Session

H. R. 613

IN THE HOUSE OF REPRESENTATIVES

January 28, 2021

(for himself, Mr. Schneider, Mr. Garbarino, Mr. Gottheimer, Mr. Jones, Mrs. Kim of California, and Mr. Smith of New Jersey) 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 repeal the limitation on the deduction for certain taxes, including State and local property and income taxes.

1.

Short title

This Act may be cited as the Securing Access to Lower Taxes by ensuring Deductibility Act or the SALT Deductibility Act.

2.

Repeal of limitation on deduction for State and local, etc. taxes

(a)

In general

Section 164(b) of the Internal Revenue Code of 1986 is amended by striking paragraph (6).

(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2020.