SALT Act

Summary

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.

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Timeline

1. 25 February 2022

   Introduced

   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.

   Source: IntroReferral

2. 25 February 2022

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 February 2022

   Introduced

   Introduced in House

   Source: IntroReferral

4. 28 February 2022

   Referred

   Referred to the Subcommittee on Health.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 25 February 2022 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 February 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 February 2022

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 February 2022

  Open at official source

Sponsors

• Tom Malinowski · D · Sponsor
• Katie Porter · D · Sponsor
• Brad Sherman · D · Sponsor
• Anna Eshoo · D · Sponsor
• Sean Casten · D · Sponsor
• Mondaire Jones · D · Sponsor
• Rep. Lieu, Ted [D-CA-36] · D · Sponsor
• Mike Levin · D · Cosponsor
• Rep. Correa, J. Luis [D-CA-46] · D · Cosponsor
• · hsif00 · Standing
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.