SALT Fairness for Working Families Act
This bill increases the limit on the individual income tax deduction for certain state and local taxes, which is currently $10,000 per year ($5,000 for a married taxpayer filing a separate return). The bill increases the limit to $15,000 (twice that amount in the case of a joint return) and requires the increased limit to be adjusted for inflation after 2021.
To amend the Internal Revenue Code of 1986 to increase the limitation 
on the amount individuals can deduct for certain State and local taxes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``SALT Fairness for Working Families 
Act''.

SEC. 2. INCREASE IN LIMITATION ON DEDUCTION FOR CERTAIN STATE AND LOCAL 
              TAXES OF INDIVIDUALS.

    (a) In General.--Section 164(b)(6)(B) of the Internal Revenue Code 
of 1986 is amended by striking ``$10,000 ($5,000 in the case of a 
married individual filing a separate return)'' and inserting ``$15,000 
(twice such amount in the case of a joint return)''.
    (b) Inflation Adjustment.--Section 164(b) of such Code is amended 
by adding at the end the following new paragraph:
            ``(7) Inflation adjustment.--In the case of any taxable 
        year beginning after December 31, 2021, the $15,000 amount in 
        paragraph (6)(B) shall be increased by an amount equal to--
                    ``(A) such dollar amount, multiplied by
                    ``(B) the cost-of-living adjustment determined 
                under section 1(f)(3) for the calendar year in which 
                the taxable year begins, determined by substituting 
                `calendar year 2020' for `calendar year 2016' in 
                subparagraph (A)(ii) thereof.
        If any amount as adjusted under the preceding sentence is not a 
        multiple of $100, such amount shall be rounded to the next 
        lowest multiple of $100.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2020.
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SALT Fairness for Working Families Act
To amend the Internal Revenue Code of 1986 to increase the limitation on the amount individuals can deduct for certain State and local taxes.
SALT Fairness for Working Families Act
Rep. Underwood, Lauren