Cutting Local Taxes by Reinstating SALT Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D GottheimerSponsor

1 cosponsor · 1 R

R Zeldin

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill amends the Internal Revenue Code to repeal the limitation on individual deductions for certain state and local taxes. (For tax years 2018-2025, the deduction for certain state and local taxes is currently limited to $10,000 per year for individuals or $5,000 for married individuals filing a separate return.)

What it does: CRS summary · Introduced in House · Sep 10, 2019

The bill also (1) limits the amount of the step-up in basis of property acquired from a decedent to $5 million, for estate tax purposes, and (2) treats property contributed by a taxpayer to a private foundation as sold by such taxpayer on the date of such contribution for its fair market value.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Cutting Local Taxes by Reinstating SALT Act

Latest action (Sep 10, 2019): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Sep 10, 2019

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.