[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1757 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 1757

 To amend the Internal Revenue Code of 1986 to increase the limitation 
on the amount individuals can deduct for certain State and local taxes.


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                    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

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase the limitation 
on the amount individuals can deduct for certain State and local taxes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. INCREASE IN LIMITATION ON DEDUCTION FOR CERTAIN STATE AND 
              LOCAL TAXES OF INDIVIDUALS.

    (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 ``$15,000 
(twice such amount in the case of a joint return)''.
    (b) Inflation Adjustment.--Section 164(b) of such Code is amended 
by adding at the end the following new paragraph:
            ``(7) Inflation adjustment.--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--
                    ``(A) such dollar amount, multiplied by
                    ``(B) 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.
        If any amount as adjusted under the preceding sentence is not a 
        multiple of $100, such amount shall be rounded to the next 
        lowest multiple of $100.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2018.
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