To provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70120, Sec. 70120.
Written by .
The phasedown may not push the cap below $10,000
The document says “shall not”Who acts: Secretary of the TreasuryHow: statuteSec. 70120 in the PDF
What the document says
“The reduction under clause (i) shall not result in the applicable limitation amount being less than $10,000.”
The section provides that the phasedown may not bring the applicable limitation amount below $10,000.
What the document actually says
“The reduction under clause (i) shall not result in the applicable limitation amount being less than $10,000.”
That sentence, in plain words
The cut may not push the cap below $10,000. That is a floor.
What this is about
So even a high income leaves $10,000. The cut stops once it reaches that point. The floor is fixed in the law.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Provide for reconciliation pursuant to title II of H. Con. Res. 14, Public Law 119-21, sec. 70120, 139 Stat. 169 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm
This page
“The phasedown may not push the cap below $10,000,” Provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70120, Sec. 70120. Read the Mandate, https://readthemandate.org/pl-119-21/proposal/sec70120-floor/ (retrieved October 10, 2026).
Cite the document when the claim is about what the document says. Cite this page when the indexing, the wording or the record of what has happened is what is being relied on.
How to Read This Page
The quotation is the document's own words, exactly as printed, checked against the page
number against the Act itself before publishing. The paragraph underneath is our summary,
not the document's words. So is the plain English version, which is why it sits beside the
quotation rather than replacing it.
