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.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2020-01-09 | IntroReferral | Read twice and referred to the Committee on Finance. | Senate |
| 2020-01-09 | IntroReferral | Introduced in Senate | Library of Congress |