“so much of the deduction allowed by section 163(a) as is attributable to the exception under section 163(h)(4)(A).”
The section adds a new paragraph (7) to section 63(b) of the Internal Revenue Code of 1986 so that the part of the interest deduction that comes from the new exception may be claimed by a taxpayer who does not itemize.
What the document actually says
“so much of the deduction allowed by section 163(a) as is attributable to the exception under section 163(h)(4)(A).”
That sentence, in plain words
The part of the interest break that comes from the new rule is named.
What this is about
It is added to a list in the tax code. Items on that list may be claimed without itemizing. So most filers can use it.
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
“The deduction is open to taxpayers who do not itemize,” 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-non-itemizers/ (retrieved August 26, 2026).
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