No more than $10,000 of interest may be taken into account
To provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70203, Sec. 70203.
Written by .
No more than $10,000 of interest may be taken into account
The document says “shall not”Who acts: Secretary of the TreasuryHow: statuteSec. 70203 in the PDF
What the document says
“The amount of interest taken into account by a taxpayer under subparagraph (B) for any taxable year shall not exceed $10,000.”
The section caps the interest that may be taken into account at $10,000 for a taxable year.
What the document actually says
“The amount of interest taken into account by a taxpayer under subparagraph (B) for any taxable year shall not exceed $10,000.”
That sentence, in plain words
No more than $10,000 of interest may be counted. That is the cap for one tax year.
What this is about
Interest above that gets no break. The cap does not grow with prices. It 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. 70203, 139 Stat. 176 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm
This page
“No more than $10,000 of interest may be taken into account,” Provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70203, Sec. 70203. Read the Mandate, https://readthemandate.org/pl-119-21/proposal/sec70203-cap/ (retrieved August 26, 2026).
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