Section 1 Short title
This Act may be cited as the “SALT Fairness and Marriage Penalty Elimination Act”.
SALT Fairness and Marriage Penalty Elimination Act
A BILL
To amend the Internal Revenue Code of 1986 to modify the limitation on the amount individuals can deduct for certain State and local taxes.
Sec. 2 Modification of limitation on deduction for certain State and local taxes of individuals
In general— Section 164(b)(6)(B) of the Internal Revenue Code of 1986 is amended by striking “shall not exceed $10,000 ($5,000 in the case of a married individual filing a separate return).” and inserting
“(i) except as provided in clause (ii), $100,000, and
“(ii) in the case of a joint return, $200,000.”
Effective date— The amendment made by this section shall apply to taxable years beginning after December 31, 2024.