Gottheimer, King Introduce Bipartisan Measure to Fully Repeal Treasury Department’s Charitable Contribution Overstep

Jun 19, 2019
Press

Blatant Giveaway to Red States, Fight to Fully Reinstate SALT and Provide Real Tax Relief Continues

Today, Wednesday, June 19, 2019, following the finalization of the U.S. Treasury Department’s rule on charitable contributions, U.S. Congressmen Josh Gottheimer (NJ-5) and Peter King (NY-2) introduced a bipartisan Joint Resolution in the House of Representatives to fully repeal the Treasury Department’s massive regulatory overreach. This new rule effectively prohibits states like New Jersey and New York from allowing towns and municipalities to use charitable funds to offer real tax relief to their communities.

Gottheimer and King noted that with this new rule, the Treasury Department and the Internal Revenue Service (IRS), without any legislative basis and against both legal precedent and decades of previous IRS approval, are unfairly picking winners and losers, while targeting states like New Jersey and New York.

“Simply put, Congress didn’t give the IRS permission to interpret the tax law as they see fit. It’s incredibly clear that this rule is aimed at whacking blue states like New Jersey and all of our hardworking, taxpaying families,” said Congressman Josh Gottheimer (NJ-5). “The Treasury rule doesn’t curtail similar tax benefits to other states – making this the ultimate politically-motivated giveaway to Red States. With the resolution I’ve introduced today, I’m digging in and fighting back.”

During a House Financial Services hearing in late May, Gottheimer questioned Treasury Secretary Steven Mnuchin on the gutting of the SALT deduction, which imposed an outrageous tax hike on New Jersey’s families and businesses, and the status of the charitable contributions rule. Secretary Mnuchin acknowledged that the Tax Hike Bill was indeed having an impact on economies like New Jersey’s.

Gottheimer continued today, “I have heard from cities and towns across the Fifth District that this Treasury regulatory overreach is stopping them from being able to provide actual tax relief for their residents. Our resolution aims to provide much needed certainty and, once and for all, give people the tax cuts they need and deserve. Our families and our businesses simply can’t afford tax increases at any level.” 

“It was bad enough that deductions for local and state taxes were eliminated which will have a devastating effect on Long Island. We give far more to Washington then we get back. For every dollar we give, we get $.79 back. That’s a $48 billion shortfall and hurts our middle class Long Islanders,” said Congressman Peter King (NY-2). “Now, the Treasury Department wants to put more salt in those wounds and deny another alternative to tax relief. It’s wrong and we will continue the fight!”

###

Recent Posts


Oct 1, 2024
Press

RELEASE: Gottheimer Statement on the Second Direct Iranian Attack Against Israel

WASHINGTON, D.C. — Today, October 1, 2024, U.S. Congressman Josh Gottheimer (NJ-5) released the following statement on the second direct Iranian attack against Israel: “Today, the Iranian regime launched a second major direct attack against our critical ally in the Middle East, Israel — putting innocent civilians in harm’s way. Since October 7, Iran, the world’s […]



Sep 30, 2024
Press

RELEASE: Ahead of the Election, Gottheimer Announces Two New Bills to Protect Poll Workers

Above: Gottheimer announcing new legislation to protect poll workers. FORT LEE, NJ — Today, September 30, 2024, U.S. Congressman Josh Gottheimer (NJ-5), announced two new pieces of legislation to protect poll workers from increased threats of violence, harassment, and intimidation. This work expands on Gottheimer’s “Election Integrity Strategy” which includes his bipartisan “Unity Commitment” which commits […]



Sep 26, 2024
Press

RELEASE: Gottheimer, Hill Introduce Bipartisan Legislation to Protect the Credit Scores of American Hostages & Wrongful Detainees

WASHINGTON, D.C. — U.S. Representatives Josh Gottheimer (NJ-5) and French Hill (AR-2) introduced bipartisan legislation, the Fair Credit for American Hostages Act, to safeguard the credit score of American hostages or wrongful detainees. According to a report from the Foley Foundation, hostages routinely face a “ruined credit stemming from unpaid debts and fines incurred during captivity.” After being held hostage or […]