Allows taxpayers to deduct taxes and state-mandated surcharges on gas or electric utility bills.
The No Taxes on Utility Bills Act amends the Internal Revenue Code to permit taxpayers to deduct taxes and state-mandated surcharges included on their gas or electric utility bills. This change applies to taxable years beginning after the enactment of this Act. The bill introduces a new paragraph in Section 164(a) of the Internal Revenue Code to include these deductions.
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