This bill aims to amend the Internal Revenue Code of 1986 by increasing the deduction limit for State and local taxes (SALT) paid by individuals. Currently, taxpayers can deduct a maximum of $10,000, or $5,000 for married individuals filing separately. The proposed legislation would raise this cap to $15,000 for most filers. For those filing a joint return , the new limit would be twice that amount, allowing a deduction of up to $30,000 . These changes are slated to take effect for taxable years beginning after December 31, 2024, providing relief to taxpayers in high-tax states.