Federal RuleAug 21
62
DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push
RuleLabor DepartmentFederal Contract Compliance Programs OfficeSignificant Wallet
119-hr-246119th CongressWALLET
SALT Fairness for Working Families Act
Sponsored By: Representative Underwood, Lauren [D-IL-14]
Introduced
Summary
Raises the federal cap on state and local tax (SALT) deductions to $15,000 for individuals and $30,000 for joint filers. This bill would increase how much state and local tax people can deduct on their federal return. It would apply to tax years beginning after December 31, 2024.
Show full summary
- Individuals and single filers: The SALT cap would rise to $15,000 from $10,000, allowing single taxpayers to deduct more state and local taxes on their federal return.
- Married couples filing jointly: The cap would be $30,000 (twice the base amount), up from $10,000, which could increase deductions for couples in higher-tax states.
- Married individuals filing separate returns: Each separate return would use the $15,000 base cap rather than the prior $5,000 figure, increasing deductible state and local taxes for those filers.
Personalized for You
How does this bill affect your finances?
Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Bigger deduction for state and local taxes
This bill would raise the cap on the state and local tax deduction. You could deduct up to $15,000 if you file alone, head of household, or married filing separately. Joint filers could deduct up to $30,000. This would apply to tax years starting after December 31, 2024 (the 2025 tax year). Only people who itemize would benefit, and it could lower federal taxes if you pay high state or local taxes.
Sponsors & CoSponsors
Sponsor
Underwood, Lauren [D-IL-14]
IL • D
Cosponsors
Rep. Casten, Sean [D-IL-6]
IL • D
Sponsored 1/9/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov