ABSTRACT

Congressional Budget Office Cost Estimate: H.R. 5377, the Restoring Tax Fairness for States and Localities Act   [open pdf - 94KB]

This is the Congressional Budget Office Cost Estimate as ordered reported by the House Committee on Ways and Means on December 11, 2019. From the Document: "The bill would [1] Increase the maximum state and local tax deduction that married couples can claim in 2019; [2] Eliminate the limitations on the maximum state and local tax deduction in 2020 and 2021; [3] Increase the top marginal individual income tax rate and reduce the income threshold for the top tax bracket from 2020 to 2025; [4] Increase the maximum amount of the deduction for certain expenses for eligible teachers; [5] Create a new above-the-line deduction for eligible expenses for first responders."

Publisher:
Date:
2019-12-13
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: http://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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