The main purpose of this legislation is to change the rules regarding how much individuals can deduct for certain state and local taxes when filing their federal income taxes. The goal is to provide more financial relief to taxpayers, particularly those in areas with high state and local taxes. Key provisions of the legislation include raising the limit on the deduction for state and local taxes. Currently, individuals can deduct up to 0,000, and married individuals filing separately can only deduct up to $5,000.