How HR 232 changes current law

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill increases the deduction limits for certain State and local taxes from $10,000 to $100,000 for individuals and from $5,000 to $200,000 for married individuals filing jointly.

• Section 164(b)(6)(B)

  shall not exceed $10,000 ($5,000 in the case of a married individual filing a separate return). → shall not exceed-- "(i) except as provided in clause (ii), $100,000, and "(ii) in the case of a joint return, $200,000."

  This change significantly raises the deduction limits for State and local taxes.