Bill116th CongressFiled Jan 9, 2020Taxation
S. 3178
Restoring Tax Fairness for States and Localities Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in senate (Jan 9, 2020)
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.
What just happenedJan 9, 2020
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Schumer, Charles E. [D-NY](D-NY)Sponsor
2 cosponsors2 D
2cosponsors1committees2actions3related bills5subjects
- Introduced in SenateJan 9, 2020
- Jan 9, 2020IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Jan 9, 2020IntroReferral10000
Introduced in Senate