I’m working with NJ state legislators to provide a “Stay in Jersey” tax incentive to NY businesses that open up reg… https://t.co/AVTcgziGAr
- 8 hours ago
STATEMENT: After Years-Long Fight, Gottheimer Passes Legislation to Reinstate SALT
Tax Cut for New Jersey Families Legislation also lowers prescription drug costs, gets lead out of drinking water, makes child care more affordable, fights climate change, and expands school breakfast program
Washington, DC, November 19, 2021
WASHINGTON, D.C. — Today, U.S. Congressman Josh Gottheimer (NJ-5) released the following statement:
“Today, the House passed legislation that will help finally restore the State and Local Tax Deduction (SALT) and cut taxes for hard-working New Jersey families. Thanks to this bill, we scored a big round against the Moocher States and we will cut taxes for families across New Jersey's Fifth District.
Months ago, I said “No SALT, No Dice.” Today, New Jersey’s middle class families won big!
A team of New Jersey accountants have been analyzing this legislation for months now, and their analysis is clear: Taxes will go down for Jersey families. When you count the IRS enforcement, in the way many recent Democratic and Republican Treasury Secretaries and IRS commissioners have, this bill will reduce the deficit.
In 2017, when the Red States and Moocher States gutted our SALT deduction by passing their Tax Hike Bill, we pledged to fight back, and now, the House has passed a bill to help us win this fight.
If you're against this bill, you're against lowering taxes for New Jersey families. If you're for this bill, you're for making life more affordable for families in our District.
If you’re for this bill, you’re also for helping address child hunger with expanded school breakfast and lunch. If you’re for this bill, you’re for combating climate change and for getting lead out of our children’s drinking water. If you’re for this bill, you’re for making child care more affordable for our families and for lowering prescription drug prices for our seniors.
This bill will not raise capital gains taxes, the corporate tax rate, or individual taxes for middle class New Jersey families.
I’m honored to have played a critical part in delivering SALT relief for hard-working families, and in ensuring we pass a commonsense, targeted reconciliation package that’s good for New Jersey, our local communities, and our families.”