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T21-0301 - Repeal SALT Limit for Taxpayers with AGI Less than $900K for Married Filing Jointly/$450K Single/$675K Head of Household in H.R.5376, The Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Level, 2022

Table shows the change in the distribution of federal taxes, by expanded cash income level in 2022, of 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) with an alternative state and local tax (SALT) deduction provision. The SALT deduction would be repealed for taxpayers with adjusted gross income (AGI) less than $900,000 for married couples filing jointly, $450,000 for single filers, and $675,000 for heads of households. The $10,000 limit would phase in rateably over a $100,000 AGI range.

December 15, 2021