H.R. 1326 · 118th Congress
SALT Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PorterSponsor4 cosponsors · 4 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill modifies the cap on state and local tax deductions (the SALT deduction) and provides for Medicare coverage of hearing and vision services.
What it does: CRS summary · Introduced in House · Mar 1, 2023
Supporting Americans with Lower Taxes Act or the SALT Act
This bill modifies the cap on state and local tax deductions (the SALT deduction) and provides for Medicare coverage of hearing and vision services.
Current law caps the SALT deduction at $10,000 for single taxpayers and married couples filing jointly and $5,000 for married taxpayers filing separately; the cap applies to tax years 2018 through 2025.
The bill permanently (1) eliminates any cap for single taxpayers or married couples filing jointly who make less than $400,000 a year ($200,000 for married taxpayers filing separately); (2) increases the cap to $60,000 for single taxpayers or married couples filing jointly who make $400,000 or more a year ($30,000 for married taxpayers filing separately who make $200,000 or more a year); and (3) phases down the cap for filers who make more than $400,000 in a manner such that those who make $1 million or more do not qualify for the deduction.
The bill also provides for Medicare coverage of hearing and vision services, including hearing aids, glasses, and contact lenses, beginning in 2025. It also appropriates any amounts received as a result of the bill's changes to the SALT cap to Medicare's Supplementary Medical Insurance Trust Fund and provides for specific fund transfers for FY2024 and FY2025 to support Medicare hearing and vision coverage.
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 (Mar 10, 2023): Referred to the Subcommittee on Health.
Policy area: Health · Origin: House · Introduced: Mar 1, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.