Potential tax relief for married couples in the Hudson Valley
The SALT Marriage Penalty Elimination Act was just voted out of the Rules Committee and could be voted on in the House this week.
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Feb 6, 2024, 11:41 AM
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Updated 171 days ago
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2ds agoMarried couples across the Hudson Valley could get bigger tax returns this year.
The SALT Marriage Penalty Elimination Act was just voted out of the Rules Committee and could be voted on in the House this week.
The bill would raise the amount of money that married taxpayers could deduct on their federal tax returns. It would go from $10,000 to $20,000 for couples who earn $500,000 or less a year.
Rep. Mike Lawler (R), from Rockland, sponsored the bill. "This is something to provide immediate tax relief when people struggle to pay for groceries, energy bills, housing costs up $1,000 a month in Rockland and Westchester counties," says Lawler.
If the House and Senate vote the bill into law, the change would be retroactive for the 2023 tax year.
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