[Congressional Record Volume 163, Number 194 (Wednesday, November 29, 2017)]
[Senate]
[Page S7409]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1590. Ms. COLLINS submitted an amendment intended to be proposed 
by her to the bill H.R. 1, to provide for reconciliation pursuant to 
titles II and V of the concurrent resolution on the budget for fiscal 
year 2018; which was ordered to lie on the table; as follows:

       Strike section 11042 and insert the following:

     SEC. 11042. SUSPENSION OF DEDUCTION FOR STATE AND LOCAL, ETC. 
                   TAXES.

       (a) In General.--Subsection (b) of section 164 is amended 
     by adding at the end the following new paragraph:
       ``(6) Suspension of individual deductions for taxable years 
     2018 through 2025.--In the case of an individual and a 
     taxable year beginning after December 31, 2017, and before 
     January 1, 2026--
       ``(A) foreign real property taxes (other than taxes which 
     are paid or accrued in carrying on a trade or business or an 
     activity described in section 212) shall not be taken into 
     account under subsection (a)(1),
       ``(B) the aggregate amount of taxes (other than taxes which 
     are paid or accrued in carrying on a trade or business or an 
     activity described in section 212) taken into account under 
     subsection (a)(1) for any taxable year shall not exceed 
     $10,000 ($5,000 in the case of a married individual filing a 
     separate return),
       ``(C) subsection (a)(2) shall only apply to taxes which are 
     paid or accrued in carrying on a trade or business or an 
     activity described in section 212,
       ``(D) subsection (a)(3) shall not apply to State and local 
     taxes, and
       ``(E) paragraph (5) shall not apply.''.
       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after December 31, 
     2017.
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