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Tax Deduction Increase for Teachers' Classroom Expenses and Inflation Adjustment.

This bill quadruples the amount that elementary and secondary school teachers can deduct from their income for out-of-pocket classroom expenses. The deduction increases from $250 to $1000, directly lowering their taxable income. Furthermore, this new $1000 limit will be adjusted annually for inflation to maintain its purchasing power, effective for the 2024 tax year.
Key points
The maximum tax deduction for teachers purchasing classroom supplies increases from $250 to $1000.
This deduction is taken directly from gross income (an "above-the-line" deduction), reducing the overall tax base.
The $1000 limit will be adjusted annually for inflation, effective for taxable years starting after December 31, 2023.
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Additional Information
To amend the Internal Revenue Code of 1986 to increase and adjust for inflation the above-the-line deduction for teachers.
Print number: HR 9256
Sponsor: Rep. Griffith, H. Morgan [R-VA-9]
Process start date: 2024-08-02