3.0.0 2894 2022-11-01T05:47:40Z 2022-11-01T05:47:40Z House HR 2019-05-22 116 [Congressional Record Volume 165, Number 86 (Wednesday, May 22, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. LIPINSKI:H.R. 2894.Congress has the power to enact this legislation pursuantto the following:Constitution of the United States, Article 1, Section 8.[Page H4120]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-05-22T14:06:15Z SALT Deduction Fairness Act 116 2762 S 2019-10-31 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S6336-6337) Related bill CRS To amend the Internal Revenue Code of 1986 to increase the limitation on the amount individuals can deduct for certain State and local taxes. 116 1757 HR 2019-03-14 Referred to the House Committee on Ways and Means. Related bill CRS 2019-05-22 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-05-22 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-05-22 Introduced in House IntroReferral 1000 9 Library of Congress L000563 Rep. Lipinski, Daniel [D-IL-3] Daniel Lipinski D IL William 3 N Taxation Corporate finance and management Income tax deductions Income tax rates Inflation and prices Property tax Sales and excise taxes State and local taxation Taxation 00 2019-05-22 Introduced in House 2020-03-26T12:42:08Z Save the State and Local Tax Deduction for Middle Class Families Act of 2019

This bill increases the limit on the tax deduction for certain state and local taxes, which is currently $10,000 per year. The bill increases the limit to $15,000 (twice the amount in the case of a joint return) and requires the new limit to be adjusted for inflation after 2019.

The bill also increases the income tax rate for corporations to an amount that the Department of the Treasury determines is required to cover the reduction in revenue resulting from the increased tax deduction allowed by this bill.

]]> Save the State and Local Tax Deduction for Middle Class Families Act of 2019 Display Title Save the State and Local Tax Deduction for Middle Class Families Act of 2019 Official Title as Introduced To amend the Internal Revenue Code of 1986 to increase the limitation on the deduction for State and local taxes, and for other purposes. Introduced in House IH Short Title(s) as Introduced Save the State and Local Tax Deduction for Middle Class Families Act of 2019 Introduced in House IH Introduced in House 2019-05-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr2894ih/xml/BILLS-116hr2894ih.xml 2019-05-22 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.