Section 1 Short title
This Act may be cited as the “SALT Relief and Marriage Penalty Elimination Act of 2019”.
SALT Relief and Marriage Penalty Elimination Act of 2019
A BILL
To amend the Internal Revenue Code of 1986 to increase the limitation on the deduction for State and local taxes.
Sec. 2 Increase in limitation on deduction for State and local taxes
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 “an amount equal to the basic standard deduction in effect with respect to the taxpayer for the taxable year under paragraph (2) of section 63(c) (determined after the application of paragraph (7) and without regard to paragraphs (5) and (6) of such section)”.
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2018.