Summary: S.3178 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.3178. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (01/09/2020)

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.