Gottheimer, Lance Unveils the Cutting Local Taxes by Reinstating SALT Act

Jan 11, 2018
Press

The Key Legislation is Another Piece of the Tax Cut Plan Businesses; Saving SALT and Actually Cutting Taxes For New Jersey Families and Businesses

Today, Congressman Josh Gottheimer (D, NJ-5) and Rep. Leonard Lance (R, NJ-7) introduced the bipartisan Cutting Local Taxes by Reinstating SALT Act, legislation that would restore the state and local tax (SALT) deduction that was recently repealed by the Tax Hike Bill.

New Jerseyans across the state rely on the state and local tax deduction. Yet, the Tax Hike Bill took a two-by-four to the State of New Jersey, gutting the State and Local Deduction (SALT), sharply limiting New Jersey’s property tax deductions, and imposing a massive Tax Hike on Jersey families and businesses. The Tax Hike Bill also eliminated home equity loan deductions, and slashed the mortgage interest deduction. The Tax Hike Bill was largely paid for on the backs of New Jersey taxpayers and, according to experts, will bring property values down by as much as twenty percent and send businesses and jobs to other states.

“The sole purpose for eliminating the State and Local Tax Deduction was an assault on New Jersey families and small businesses, while redistributing our hard-earned wages to Moocher States, such as Mississippi and Alabama,” said Congressman Gottheimer.

“In Jersey, we don’t just take a punch and snake away into the corner. No, we stand up fight. That’s why my colleague Leonard Lance and I introduced the bipartisan Cutting Local Taxes by Reinstating SALT Act. It is part of my broader Tax Cut Plan to restore the state and local tax deduction in its entirety,” continued Gottheimer.

“No taxpayer should have to pay taxes on taxes. The state and local tax deduction should be restored in its entirety. It has been in the tax code since 1913 and is a matter of fundamental fairness under the concept of federalism,” said Rep. Lance.

The bipartisan Cutting Local Taxes by Reinstating SALT Act is part of the Gottheimer Tax Cut Plan, which includes utilizing charitable deductions to provide relief, pursuing legal recourse to challenge the Tax Hike Bill provisions, increasing the Return on Investment for federal tax dollars already sent to Washington, and enacting anti-mooch state tax credit legislation.

To view a one-page summary of the Tax Cut Plan, click here.

To view a full version of the legislation, click here.

Recent Posts


Nov 30, 2023
Press

RELEASE: Gottheimer Statement on New York’s Congestion Tax

NORTH JERSEY — Today, November 29, 2023, U.S. Congressman Josh Gottheimer (NJ-5) released the following statement: “As advertised, New York is officially sticking it to Jersey families with their commuter-crushing Congestion Tax. On top of the existing tolls, it’ll be 15 bucks every day to go into the city with no discounts at the GW Bridge […]



Nov 29, 2023
Press

RELEASE: After Gottheimer Questioning, Consumer Finance Protection Bureau Director Chopra Agrees to “Look Into” NY’s Congestion Tax

WASHINGTON, D.C. — Today, November 29, 2023, during a U.S. House of Representatives Financial Services Committee hearing, U.S. Congressman Josh Gottheimer questioned Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, a New Jersey native, about New York’s $23-a-day Congestion Tax “making money off of gouging middle class Americans with exorbitant tolls.” Director Rohit Chopra agreed to “look into” the […]



Nov 29, 2023
Press

RELEASE: Gottheimer Helps Pass Bipartisan Legislation Condemning Hamas, Calling for the Release of All Hostages, and Reaffirming Israel’s Right to Exist

WASHINGTON D.C. — Tonight, November 28, 2023, U.S. Congressman Josh Gottheimer (NJ-5) helped pass two pieces of bipartisan legislation to condemn the Hamas terrorist attack on Israel, reaffirm Israel’s right to exist, and call for Hamas to immediately surrender and safely release all hostages. On October 7, Hamas terrorists brutally murdered, raped, burned alive, decapitated, and […]