Political Quotes

“I ask unanimous consent that the text of the bill be printed in the Record. There being no objection, the text of the bill was ordered to be printed in the Record, as follows: S. 3178 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 ``Restoring Tax Fairness for States and Localities Act''. SEC. 2. ELIMINATION FOR 2019 OF MARRIAGE PENALTY IN LIMITATION ON DEDUCTION OF STATE AND LOCAL TAXES. (a) In General.--Section 164(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: ``(7) Special rule for limitation on individual deductions for 2019.--In the case of a taxable year beginning after December 31, 2018, and before January 1, 2020, if the adjusted gross income of the taxpayer for such taxable year does not exceed $100,000,000, paragraph (6) shall be applied by substituting `($20,000 in the case of a joint return)' for `($5,000 in the case of a married individual filing a separate return)'.''. (b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2018. SEC. 3. ELIMINATION FOR 2020 AND 2021 OF LIMITATION ON DEDUCTION OF STATE AND LOCAL TAXES.…”