WeVote
Log In

Bill

Bill

HR 430

SALT Deductibility Act

119th Congress Introduced by Julia Brownley and 24 co-sponsors

The SALT Deductibility Act restores full state and local tax deductions, easing financial burdens for millions in high-tax states by eliminating the $10,000 cap.

Introduced in House
0
WeVote Research Nonpartisan
Bill Summary · HR 430

Summary of HR 430 - SALT Deductibility Act

Overview

The SALT Deductibility Act, formally known as the Securing Access to Lower Taxes by ensuring Deductibility Act, was introduced in the House of Representatives on January 15, 2025. The bill aims to address the limitations on the deductibility of state and local taxes (SALT) that were imposed by the Tax Cuts and Jobs Act of 2017.

Purpose and Intent

The primary intent of the SALT Deductibility Act is to restore full deductibility of state and local taxes for individual taxpayers. This legislation seeks to alleviate the financial burden on taxpayers in high-tax states, where residents often pay significant amounts in state and local taxes.

Key Provisions

  • Restoration of SALT Deduction: The bill proposes to eliminate the current cap on the SALT deduction, which is currently limited to $10,000 for individuals and married couples filing jointly.
  • Tax Relief: By restoring full deductibility, the bill aims to provide tax relief to millions of taxpayers who have been adversely affected by the cap, particularly in states with higher tax rates.

Affected Parties

  • Individual Taxpayers: The primary beneficiaries of this bill would be individual taxpayers, especially those residing in states with high income and property taxes.
  • State and Local Governments: The bill may also impact state and local governments by potentially influencing tax policy and revenue generation strategies.

Legislative Actions

  • Introduced: January 15, 2025
  • Referred to Committee: The bill has been referred to the House Committee on Ways and Means for further consideration.

Sponsors

The SALT Deductibility Act has garnered support from a diverse group of sponsors, including:
- Primary Sponsor: Andrew R. Garbarino
- Cosponsors: Notable cosponsors include Michael Lawler, Patrick Ryan, and Eleanor Holmes Norton, among others, totaling over 20 cosponsors from various states.

Conclusion

The SALT Deductibility Act represents a significant legislative effort to restore tax benefits for individuals affected by the SALT deduction cap. As the bill progresses through the legislative process, it will be essential to monitor its developments and potential implications for taxpayers and state tax policies.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.