H. R. 232, titled the “SALT Fairness and Marriage Penalty Elimination Act,” proposes changes to the Internal Revenue Code of 1986. It aims to increase the limit on how much individuals can deduct for certain state and local taxes. The bill raises the deduction cap to $100,000...
Simple Explanation
H. R. 232 is trying to change the rules so that people can take off more from their taxes for money they’ve paid to the state or city they live in, making the limit much higher than before. This means some families might have to pay less when they do their taxes each year.