Why I Voted Yes on H.R. 622

Statement

Date: April 16, 2015
Location: Washington, DC
Issues: Taxes

I voted "Yes" on H.R. 622, the State and Local Sales Tax Deduction Fairness Act.

Beginning in 2005, taxpayers in states that did not have state income taxes could take an itemized federal deduction for state and local sales taxes in lieu of the deduction for income taxes -- but that option expired at the end of 2014. Under that expired provision of the tax code, taxpayers had two options for determining the sales tax deduction amount: deducting the total amount by accumulating receipts showing general sales taxes paid, or using state tables created by the Treasury Department and deducting additional sales taxes paid for the purchases of motor vehicles, boats and other major items.

This bill makes permanent the ability of taxpayers to deduct state and local sales taxes in lieu of state and local income taxes effective for the 2015 tax year. I support this effort to add more certainty into our tax code so that tax filers can better expect what their tax burden will be each year and plan accordingly.


Source
arrow_upward