The SALT Relief Act is a federal bill aimed at restoring the full state and local tax (SALT) deduction that was capped under the 2017 Tax Cuts and Jobs Act. This bill seeks to alleviate the tax burden on individuals in high-tax states by allowing them to deduct state and local taxes above the current $10,000 limit from their federal taxable income. The main provision of this bill is to increase the SALT deduction cap to $20,000 for individuals and $40,000 for married couples filing jointly. The impact of this legislation would primarily benefit taxpayers in states with higher state and local taxes by reducing their overall federal tax liability.
2023-02-28: Introduced in House
2023-02-28: Sponsor introductory remarks on measure. (CR H954)
2023-02-28: Referred to the House Committee on Ways and Means.
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