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.
1. Short title
This Act may be cited as the “Securing Access to Lower Taxes by ensuring Deductibility Act” or the “SALT Deductibility Act”.
2. Repeal of limitation on deduction for State and local, etc. taxes
(a) In general
Section 164(b) of the Internal Revenue Code of 1986 is amended by striking paragraph (6).
(b) Effective date
The amendment made by this section shall apply to taxable years beginning after December 31, 2024.