| 1 | 1 | | I |
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| 2 | 2 | | 118THCONGRESS |
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| 3 | 3 | | 2 |
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| 4 | 4 | | DSESSION H. R. 7160 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to modify the limitation |
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| 6 | 6 | | on the amount certain married individuals can deduct for State and |
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| 7 | 7 | | local taxes. |
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| 8 | 8 | | IN THE HOUSE OF REPRESENTATIVES |
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| 9 | 9 | | JANUARY31, 2024 |
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| 10 | 10 | | Mr. L |
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| 11 | 11 | | AWLER(for himself, Mr. LALOTA, Mr. GARBARINO, Mr. D’ESPOSITO, |
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| 12 | 12 | | Mr. M |
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| 13 | 13 | | OLINARO, Mr. KEANof New Jersey, Mr. HARRIS, Mr. MIKEGAR- |
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| 14 | 14 | | CIAof California, and Mrs. KIMof California) introduced the following |
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| 15 | 15 | | bill; which was referred to the Committee on Ways and Means |
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| 16 | 16 | | A BILL |
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| 17 | 17 | | To amend the Internal Revenue Code of 1986 to modify |
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| 18 | 18 | | the limitation on the amount certain married individuals |
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| 19 | 19 | | can deduct for State and local taxes. |
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| 20 | 20 | | Be it enacted by the Senate and House of Representa-1 |
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| 21 | 21 | | tives of the United States of America in Congress assembled, 2 |
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| 22 | 22 | | SECTION 1. SHORT TITLE. 3 |
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| 23 | 23 | | This Act may be cited as the ‘‘SALT Marriage Pen-4 |
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| 24 | 24 | | alty Elimination Act’’. 5 |
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| 25 | 25 | | VerDate Sep 11 2014 23:08 Feb 01, 2024 Jkt 049200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H7160.IH H7160 |
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| 26 | 26 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
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| 27 | 27 | | •HR 7160 IH |
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| 28 | 28 | | SEC. 2. MODIFICATION OF LIMITATION ON DEDUCTION 1 |
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| 29 | 29 | | FOR CERTAIN STATE AND LOCAL TAXES. 2 |
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| 30 | 30 | | (a) I |
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| 31 | 31 | | NGENERAL.—Section 164(b)(6) of the Internal 3 |
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| 32 | 32 | | Revenue Code of 1986 is amended by adding at the end 4 |
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| 33 | 33 | | the following: ‘‘In the case of a joint return for a taxable 5 |
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| 34 | 34 | | year beginning after December 31, 2022, and before Jan-6 |
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| 35 | 35 | | uary 1, 2024, if the taxpayer’s adjusted gross income for 7 |
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| 36 | 36 | | such taxable year is less than $500,000, subparagraph (B) 8 |
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| 37 | 37 | | shall be applied by substituting ‘$20,000’ for ‘$10,000’.’’. 9 |
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| 38 | 38 | | (b) E |
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| 39 | 39 | | FFECTIVEDATE.—The amendment made by 10 |
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| 40 | 40 | | this section shall apply to taxable years beginning after 11 |
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| 41 | 41 | | December 31, 2022. 12 |
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| 42 | 42 | | Æ |
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| 43 | 43 | | VerDate Sep 11 2014 23:08 Feb 01, 2024 Jkt 049200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H7160.IH H7160 |
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| 44 | 44 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
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