Bill · H.R. 246· House(119-HR-246)
SALT Fairness for Working Families Act
- Introduced
- 1/9/2025
- Last activity
- 1/9/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Lauren Underwood
- Cosponsors
- - 1 - 0
- Introduced
- In Committee
What this bill would do
This bill, titled the ``SALT Fairness for Working Families Act'', aims to amend the Internal Revenue Code of 1986. The primary goal is to increase the limit on how much individuals can deduct for certain state and local taxes. It proposes replacing the current $10,000 limit with a $15,000 limit. For married individuals filing joint returns, the limit would be twice that amount. These changes are intended to take effect for taxable years beginning after December 31, 2024.
Yes· 3 of 7
Would high-income households be better off under this?+6
The higher cap provides significant tax relief to high-income earners who live in high-tax states and itemize deductions.
Would middle-income households be better off under this?+5
The bill allows middle-income families to deduct more of their state and local taxes from their federal taxable income.
Does this cut taxes for middle-income families?+5
The bill increases the SALT deduction limit from $10,000 to $15,000, which reduces the tax burden for many middle-income families.
The opposite
Does this reduce what the federal government spends?-2
By increasing tax deductions, the bill reduces federal tax revenue.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Tax Deductions: Under Section 2(a), the cap on deducting certain state and local taxes would increase from $10,000 to $15,000. This provides a higher deduction amount for individuals.
-
Benefits for Married Couples: Section 2(a) specifies that for those filing a joint return, the limit would be twice the $15,000 amount. This offers a larger deduction for married couples filing together.
Potential Negative Impacts for People
- No Negative Impacts Identified: The provided text contains no provisions that would result in a negative consequence or burden for individuals or groups of people.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For High Income Households+6Good For Middle Class Households+5Good For Middle Aged+3Good For Retirees+3Good For Seniors+3
- Economy And Finance
- Reduces Middle Class Taxes+5Reduces Small Business Taxes+2Reduces Government Spending-2
- 1/9/2025
- Referred to the House Committee on Ways and Means.
- 1 Cosponsor added.
- Introduced in House
Sean CastenDemocrat · Illinois