SALT Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Feb 25, 2022)
Supporting Americans with Lower Taxes Act or the SALT Act
This bill modifies the limitation on the tax deduction for certain state, local, and foreign real and personal property taxes. Specifically, the bill denies a tax deduction for foreign real property taxes to any individual taxpayer with an adjusted gross income that equals or exceeds $400,000. It also limits the deduction for the aggregate amount of other state and local taxes and sales taxes for such taxpayers to $60,000 in a taxable year.
The bill transfers revenues from this bill to a Medicare Vision and Hearing Trust Fund to provide vision and hearing benefits under the Medicare program.
What just happenedFeb 28, 2022
Referred to the Subcommittee on Health.
Who’s behind it
- Introduced in HouseFeb 25, 2022
- Feb 28, 2022Committee
Referred to the Subcommittee on Health.
Health Subcommittee - Feb 25, 2022IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Energy and Commerce Committee - Feb 25, 2022IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Ways and Means Committee - Feb 25, 2022IntroReferralIntro-H
Introduced in House
- Feb 25, 2022IntroReferral1000
Introduced in House