Back to SALT Options in the Build Back Better Act as Reported by House Budget Committee: Rules Committee Print 117-18 as Amended by 117-19 (December 2021)
Model Estimate T21-0303 - Tax Units with a Tax Increase or Tax Cut by Repealing SALT Limit for Taxpayers with AGI Less than $900K MFJ/$450K Single/$675K HoH in H.R.5376, The Build Back Better Act as Reported by House Budget Committee, by Expanded Income Percentile, 2022 t21-0303.xls
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Table shows the distribution of tax units that see a tax increase or a tax cut ("winners and losers"), by expanded cash income percentile 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 The SALT deduction would be repealed for taxpayers with adjusted gross income (AGI) less than $900,000 for married couples filing jointly, $450,000 for single filers, and $675,000 for heads of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.
Model Estimates Type Distribution Tables by Income Percentile
Primary topic Campaigns, Proposals, and Reforms
Topics Current legislative proposals Income tax (individual) Tax expenditures (individual) State and local taxes
Model Estimates from the same Simulation Run December 15, 2021
Model Estimate
T21-0296 - Phase out Benefit of $80,000 SALT Limit Starting at AGI of $900K for MFJ/$450K Single/$675K HoH in H.R.5376, The Build Back Better Act as Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Level, 2022
Model Estimate
T21-0297 - Phase out Benefit of $80,000 SALT Limit Starting at AGI of $900K for MFJ/$450K Single/$675K HoH in H.R.5376, The Build Back Better Act as Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Percentile, 2022
Model Estimate
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
Model Estimate
T21-0299 - 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 Income Percentile, 2022
Model Estimate
T21-0300 - 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
Model Estimate
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
Model Estimate
T21-0302 - Tax Units with a Tax Increase or Tax Cut by Repealing SALT Limit for Taxpayers with AGI Less than $900K for MFJ/$450K Single/$675K HoH in H.R.5376, The Build Back Better Act as Reported by House Budget Committee, by Expanded Income Level, 2022
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