S. 315 — A bill to modify the deduction for certain tax payments to state and local governments.

Summary

Amends the Internal Revenue Code to limit an individual's deduction for State and local taxes to that amount of the taxes which exceeds one percent of the adjusted gross income of the taxpayer.

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Legislative Actions

1985-01-29
Introduced in Senate
1985-01-29
Read twice and referred to the Committee on Finance.
1985-01-31
Committee on Finance requested executive comment from OMB, Treasury Department.

A bill to modify the deduction for certain tax payments to state and local governments.

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