H.R. 6847 · 117th Congress
SALT Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MalinowskiSponsor8 cosponsors · 8 D
6 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill modifies the limitation on the tax deduction for certain state, local, and foreign real and personal property taxes. Specifically, the bill denies a tax deduction for foreign real property taxes to any individual taxpayer with an adjusted gross income that equals or exceeds $400,000.
What it does: CRS summary · Introduced in House · Feb 25, 2022
Supporting Americans with Lower Taxes Act or the SALT Act
This bill modifies the limitation on the tax deduction for certain state, local, and foreign real and personal property taxes. Specifically, the bill denies a tax deduction for foreign real property taxes to any individual taxpayer with an adjusted gross income that equals or exceeds $400,000. It also limits the deduction for the aggregate amount of other state and local taxes and sales taxes for such taxpayers to $60,000 in a taxable year.
The bill transfers revenues from this bill to a Medicare Vision and Hearing Trust Fund to provide vision and hearing benefits under the Medicare program.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: SALT Act
Also known as: Supporting Americans with Lower Taxes Act
Latest action (Feb 28, 2022): Referred to the Subcommittee on Health.
Policy area: Taxation · Origin: House · Introduced: Feb 25, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.