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Main Subject: Taxation

Restoring Tax Fairness for States and Localities Act

This bill increases the tax deduction for state and local taxes in 2019 to $20,000 for persons filing a joint tax return. It eliminates the current $10,000 cap on the deduction in 2020 and 2021.

The bill increases the top marginal income tax rate to 39.6% beginning in 2020, and reduces the dollar amount at which the increased tax rate begins.

HR5342-116, HR5352-116, HR5377-116,

Senate Actions

IntroReferral
Jan. 09 2020	Read twice and referred to the Committee on Finance.

Library of Congress Actions

IntroReferral
Jan. 09 2020	Introduced in Senate

Senate bill S3178-116

A bill to amend the Internal Revenue Code of 1986 to modify the limitation on deduction of State and local taxes, and for other purposes.

Senate bill S3178-116

A bill to amend the Internal Revenue Code of 1986 to modify the limitation on deduction of State and local taxes, and for other purposes.

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