II
117th CONGRESS
1st Session
S. 85
IN THE SENATE OF THE UNITED STATES
January 28, 2021
Mr. Schumer (for himself, Mr. Wyden, Mr. Menendez, Mrs. Gillibrand, Mr. Booker, Mr. Durbin, and Ms. Duckworth) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to repeal the limitation on the deduction for certain taxes, including State and local property and income taxes.
Short title
This Act may be cited as the Securing Access to Lower Taxes by ensuring Deductibility Act
or the SALT Deductibility Act
.
Repeal of limitation on deduction for State and local, etc. taxes
In general
Section 164(b) of the Internal Revenue Code of 1986 is amended by striking paragraph (6).
Effective date
The amendment made by this section shall apply to taxable years beginning after December 31, 2020.