1. Short title
This Act may be cited as the “SALT Deduction Fairness Act”.
SALT Deduction Fairness Act
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.
2. Increase in limitation on deduction for individuals filing jointly on 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 “$10,000 (twice such amount in the case of a joint return)”.
Effective date— The amendment made by this section shall apply to taxable years beginning after December 31, 2020.