[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 804 Introduced in Senate (IS)]

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117th CONGRESS
  1st Session
                                 S. 804

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

               March 17 (legislative day, March 16), 2021

  Ms. Collins introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase the limitation 
 on the amount individuals filing jointly 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. SHORT TITLE.

    This Act may be cited as the ``SALT Deduction Fairness Act''.

SEC. 2. INCREASE IN LIMITATION ON DEDUCTION FOR INDIVIDUALS FILING 
              JOINTLY ON 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 ``$10,000 
(twice such amount in the case of a joint return)''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2020.
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