End Double Taxation of Successful Consumer Claims Act

TL;DR (AI)

• The bill allows for an above-the-line deduction for attorney fees and costs related to consumer protection violation claims.
• The deduction applies to fees and costs paid during taxable years ending after the Act's enactment, with respect to judgments or settlements occurring during those years.
• The defined consumer protection violations encompass laws such as the Real Estate Settlement Procedures Act, the Truth in Lending Act, and the Fair Credit Reporting Act, as well as provisions prohibiting unfair or deceptive trade practices.