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T21-0298 - Tax Units with a Tax Increase or Tax Cut with an $80,000 SALT Limit Phasing out at AGI of $900K for MFJ/$450K Single/$675K HoH in H.R.5376, The Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Level, 2022

Table shows the distribution of tax units that see a tax increase or a tax cut ("winners and losers"), by expanded cash income level in 2022, due to the tax provisions in H.R.5376, The Build Back Better Act as reported by the House Budget Committee, with modifications (Rules Committee Print 117-18 as Amended by 117-19) and an alternative state and local tax (SALT) deduction provision. The benefit of the $80,000 SALT limit would begin to phase out at adjusted gross income (AGI) of $900,000 for married couples filing jointly, $450,000 for single filers, and $675,000 for heads of households. The limit would effectively phase down to $10,000 rateably over a $100,000 AGI range.

December 15, 2021