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Save the State and Local Tax Deduction for Middle Class Families Act of 2019

USA116th CongressHR-2894| House 
| Updated: 5/22/2019
Daniel Lipinski

Daniel Lipinski

Democratic Representative

Illinois

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Save the State and Local Tax Deduction for Middle Class Families Act of 2019 This bill increases the limit on the tax deduction for certain state and local taxes, which is currently $10,000 per year. The bill increases the limit to $15,000 (twice the amount in the case of a joint return) and requires the new limit to be adjusted for inflation after 2019. The bill also increases the income tax rate for corporations to an amount that the Department of the Treasury determines is required to cover the reduction in revenue resulting from the increased tax deduction allowed by this bill.
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Timeline
May 22, 2019
Introduced in House
May 22, 2019
Referred to the House Committee on Ways and Means.
  • May 22, 2019
    Introduced in House


  • May 22, 2019
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • HR 116-1757: To amend the Internal Revenue Code of 1986 to increase the limitation on the amount individuals can deduct for certain State and local taxes.
  • S 116-2762: SALT Deduction Fairness Act
Corporate finance and managementIncome tax deductionsIncome tax ratesInflation and pricesProperty taxSales and excise taxesState and local taxation

Save the State and Local Tax Deduction for Middle Class Families Act of 2019

USA116th CongressHR-2894| House 
| Updated: 5/22/2019
Save the State and Local Tax Deduction for Middle Class Families Act of 2019 This bill increases the limit on the tax deduction for certain state and local taxes, which is currently $10,000 per year. The bill increases the limit to $15,000 (twice the amount in the case of a joint return) and requires the new limit to be adjusted for inflation after 2019. The bill also increases the income tax rate for corporations to an amount that the Department of the Treasury determines is required to cover the reduction in revenue resulting from the increased tax deduction allowed by this bill.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 22, 2019
Introduced in House
May 22, 2019
Referred to the House Committee on Ways and Means.
  • May 22, 2019
    Introduced in House


  • May 22, 2019
    Referred to the House Committee on Ways and Means.
Daniel Lipinski

Daniel Lipinski

Democratic Representative

Illinois

Ways and Means Committee

Taxation

Related Bills

  • HR 116-1757: To amend the Internal Revenue Code of 1986 to increase the limitation on the amount individuals can deduct for certain State and local taxes.
  • S 116-2762: SALT Deduction Fairness Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Corporate finance and managementIncome tax deductionsIncome tax ratesInflation and pricesProperty taxSales and excise taxesState and local taxation