H.R. 9821

Shared Values Act

Sponsor: Lauren Underwood · 0 cosponsors

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XXI

Sec. 2101. Increase in limitation on deduction for certain State and local taxes of individuals

(a) In general. Section 164(b)(6)(B) of the Internal Revenue Code of 1986 is amended by striking $10,000 ($5,000 in the case of a married individual filing a separate return) and inserting $15,000 (twice such amount in the case of a joint return).

(b) Effective date. The amendment made by this section shall apply to taxable years beginning after December 31, 2024.