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T21-0285 - Increase Limit on Deductible State and Local Taxes (SALT) to $25,000 for those with AGI less than $400,000 and Phase out Increase in Deduction for AGI between $400,000-$500,000, by Expanded Income Percentile, 2021

Table shows the change in the distribution of federal taxes relative to current law from raising the $10,000 limit on deductible state and local taxes (SALT) to $25,000 for those with adjusted gross income (AGI) less than $400,000, by expanded cash income percentile in 2021. The phase out limit would be between $400,000 and $500,000 of AGI.

December 8, 2021