H. R. 430 proposes changes to the Internal Revenue Code of 1986 to remove the cap on how much people can deduct for certain taxes, like state and local property and income taxes, on their federal tax returns. This bill, known as the “Securing Access to Lower Taxes by ensuring...
Simple Explanation
The bill wants to let people take off all of their state and local taxes, like property and income taxes, from the money they report to the government, so they might pay less in federal taxes. It would start helping people with their taxes starting in 2025.