H.R.4274: Cutting Local Taxes by Reinstating SALT Act

About This Bill

  • Introduced Sept. 10, 2019
  • Latest Major Action Sept. 10, 2019

Bill Cosponsor

Bill Version

Bill Summary

This bill amends the Internal Revenue Code to repeal the limitation on individual deductions for certain state and local taxes. (For tax years 2018-2025, the deduction for certain state and local taxes is currently limited to $10,000 per year for individuals or $5,000 for married individuals filing a separate return.) The bill also (1) limits the amount of the step-up in basis of property acquired from a decedent to $5 million, for estate tax...

(Source: Library of Congress)

What Lawmakers Are Saying About This Bill

There is one statement associated with H.R.4274.

Bill Actions

Date Description
Sept. 10, 2019
Referred to the House Committee on Ways and Means.
Sept. 10, 2019

Introduced in the House by Josh Gottheimer (D-N.J.)

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