H.R. 1260 — Introduced in House

I 118th CONGRESS 1st Session H. R. 1260 IN THE HOUSE OF REPRESENTATIVES February 28, 2023Mr. Santos introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to increase the limitation on the deduction for State and local taxes. 1. Short title This Act may be cited as the SALT Relief Act. 2. Increase in limitation on deduction for State and local taxes (a) In general Section 164(b)(6)(B) of the Internal Revenue Code of 1986 is amended by striking $10,000 ($5,000 and inserting $50,000 ($25,000. (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2022.