Tax Relief for Middle Class Families Act of 2024

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 5219 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 5219 To amend the Internal Revenue Code of 1986 to increase the limitation on the deduction for State and local taxes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES September 25, 2024 Mr. Helmy 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 increase the limitation on the deduction for State and local taxes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Tax Relief for Middle Class Families Act of 2024''. SEC. 2. INCREASE IN LIMITATION ON DEDUCTION FOR STATE AND LOCAL TAXES. (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 ``$100,000 (twic…