HR 5377 · 116th Congress · Taxation
Restoring Tax Fairness for States and Localities Act
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Finance.(2020-01-03)
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Plain Language Summary
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Restoring Tax Fairness for States and Localities Act This bill increases the tax deduction for state and local taxes in 2019 to $20,000 for persons filing a joint tax return. It eliminates the current $10,000 cap on the deduction in 2020 and 2021. The bill increases the top marginal income tax rate to 39.6% beginning in 2020, and reduces the dollar amount at which the increased tax rate begins.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 5377, Restoring Tax Fairness for States and Localities Act
Dec 13, 2019As ordered reported by the House Committee on Ways and Means on December 11, 2019.
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (20)
19 Democrats1 Republican