SALT Fairness and Marriage Penalty Elimination Act

Plain-English summary

SALT Fairness and Marriage Penalty Elimination Act This bill increases the limitation on the federal tax deduction for state and local taxes (commonly known as the SALT deduction cap) to $100,000 ($200,000 for married individuals filing a joint federal income tax return). Under current law, the SALT deduction cap is $10,000 ($5,000 for married individuals filing separate federal income tax returns).

Deterministically condensed from the official CRS summary; verify details in the official record.