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Gottheimer Praises NJ Tax Cut Plan Signed Into Law Today
Clears Path To Real Tax Cuts for North Jersey Families and Businesses
Today, May 4, 2018, Congressman Josh Gottheimer (NJ-5) praised the bipartisan New Jersey Tax Cut Plan being signed into law, less than four months after he stood with mayors and other elected officials to introduce the plan in Fair Lawn. Less than five months ago, Congress passed the Tax Hike Bill that gutted the State and Local Tax (SALT) Deduction, imposing a massive tax hike on New Jersey families and businesses.
"In New Jersey, our taxes are simply too high — and they need to be cut for families and businesses alike. But the Tax Hike Bill passed in Washington did just the opposite. Gutting the SALT deduction amounts to a seven percentage point tax increase on many of the residents in my District, making families and businesses less likely to come or stay in our state," said Congressman Josh Gottheimer (NJ-5). "I am proud of the New Jersey Tax Cut Plan we introduced back in January, and proud the legal basis for the plan was again affirmed by the nation’s top tax scholars this week. I'm doing everything I can to ensure that the new law is put into action quickly to deliver real tax cuts for New Jersey residents and families, including coordinating with the state to help Fifth District mayors put the plan into action quickly and pushing the IRS to meet with me. I commend both Democrats and Republicans in the Legislature for their work on helping make living in New Jersey more affordable."
Back in January, in Fair Lawn, in response to the Tax Hike Bill that gutted the State and Local Tax Deduction (SALT), Gottheimer introduced the new Tax Cut Plan for New Jersey. Gottheimer was joined by the then-Governor-elect, as well as the mayors of Paramus, Fair Lawn, and Park Ridge, who all plan to propose his tax cut solution in their respective towns.
After introducing the Tax Cut Plan, Gottheimer joined with Rep. Leonard Lance (NJ-7) to meet with Acting IRS Commissioner David J. Kautter to discuss the New Jersey Tax Cut Plan. At the end of February, Gottheimer joined with Senator Sarlo and Senate President Sweeney on the idea in Paramus, ahead of the legislation passing the State Senate the following week. On April 12, Gottheimer congratulated the New Jersey State Legislature on taking the next step toward lowering taxes for New Jersey families and businesses by passing the New Jersey Tax Cut Bill in the State Senate and State Assembly.