,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #bhid  ,,in ,,the ,,house ,,of  
,,representatives  ,may #bb1 #bjai,mr4  
,lipinski introduced the following bill2
 which was referred to the ,committee on
 ,ways and ,means  ,a ,,bill  ,to amend 
the ,internal ,revenue ,code of #aihf to
 increase the limitation on the         
deduction for ,state and local taxes1   
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,save the ,state and ,local ,tax        
,deduction for ,middle ,class ,families 
,act of #bjai4  #b4 ,increase in        
limitation on deduction for ,state and  
local taxes  7a7 ,in general ,section   
#afd7;b77#f77;,b7 of the ,internal      
,revenue ,code of #aihf is amended by   
striking #aj1jjj 7#e1jjj in the case of 
a married individual filing a separate  
return7 and inserting #ae1jjj 7twice    
such amount in the case of a joint      
return74  7b7 ,inflation adjustment     
,section #afd7;b77#f7 of such ,code is  
amended-- 7#a7 by striking and at the   

end of subparagraph 7,a71 by striking   
the period at the end of subparagraph   
7,b7 and inserting 1 and1 and by        
inserting after subparagraph 7,b7 the   
following new subparagraph3  7,c7 in the
 case of a taxable year beginning in a  
calendar year after #bjai1 the #ae1jjj  
amount in subparagraph 7,b7 shall be    
increased by an amount equal to--  7i7  
such dollar amount1 multiplied by  7ii7 
the cost-of-living adjustment determined
 under section #a7;f77#c7 for the       
calendar year in which the taxable year 
begins1 determined by substituting      
calendar year #bjah for calendar year   
#bjaf in subparagraph 7,a77ii7 thereof4 
1 and  7#b7 by adding at the end the    
following3 ,any increase determined     
under subparagraph 7,c7 shall be rounded
 to the nearest multiple of #ajj4  7c7  
,effective date ,the amendments made by 
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjah4  #c4 ,increase in corporate      
income tax rate  7a7 ,in general        

,section #aa7;b7 of the ,internal       
,revenue ,code of #aihf is amended by   
striking #ba percent of taxable income4 
and inserting the applicable percentage 
of taxable income4 ,for purposes of the 
preceding sentence1 the term applicable 
percentage means such percentage as the 
,secretary determines 7not later than   
#fj days after the date of the enactment
 of this sentence7 will result in an    
increase in revenues to the ,treasury   
7relative to the revenues that the      
,secretary estimates would have been    
received in the ,treasury if the        
applicable percentage were #ba percent7 
equal to the reduction in revenues to   
the ,treasury which the ,secretary      
estimates will occur by reason of the   
amendment made by section #b of the     
,save the ,state and ,local ,tax        
,deduction for ,middle ,class ,families 
,act of #bjai44  7b7 ,effective date    
,the amendment made by this section     
shall apply to taxable years beginning  
after ,december #ca1 #bjah4