HR 4274
Cutting Local Taxes by Reinstating SALT Act
Take action
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Cutting Local Taxes by Reinstating SALT Act, aims to modify the Internal Revenue Code to restore a deduction for state and local taxes. It does this by repealing a limitation on the deduction for state and local taxes, while also capping the step-up in basis for inherited property at $5 million and treating contributions to private foundations as if they were sold at fair market value. These changes are intended to provide relief to taxpayers and potentially stimulate local economies.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsor
Lee M. Zeldin
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.