Gottheimer Praises NJ Tax Cut Plan Signed Into Law Today

May 04, 2018
Press

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.


New Jersey is one of the highest tax-paying states in the Country. This Moocher Map Identifies “Moochers”– states taking more in handouts than they are paying in as federal taxes. 

1. This past Monday, April 30, the top tax scholars in the nation published a new legal analysis of the charitable tax plan in Tax Notes, the main weekly publication on federal and state tax policy developments, affirming the legal basis for states to help restore the value of the State and Local Tax (SALT) Deduction by providing a tax deduction for taxpayers who make charitable contributions to their state or other local governments. The analysis calls the Plan’s central mechanism, which thirty-three states, largely red states, from Alabama to South Carolina, have been taking advantage of for decades, a “correct and long-standing” principle of federal law. Back in January, when Gottheimer first introduced the Tax Cut Plan, the eight tax law experts released a legal brief supporting the plan’s central mechanism.

Gottheimer is also quickly working on next steps to help towns and taxpayers who want to take advantage of the new tax cuts.

2. Gottheimer is coordinating with the state to set up a call for Wednesday, May 9, with Budget and Appropriations Chairman Senator Sarlo, the 79 mayors in the Fifth Congressional District, and officials from the New Jersey Treasury Department and the New Jersey Department of Community Affairs (DCA).

3. Gottheimer also recently requested a second meeting with the IRS to ensure North Jersey residents will receive the tax relief they deserve.

“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.

Recent Posts


Sep 13, 2024
Press

RELEASE: Gottheimer, Bacon, 30 Bipartisan Members Launch New Unity Commitment

WASHINGTON, DC — Today, September 13, 2024, U.S. Representatives Josh Gottheimer (NJ-5) and Don Bacon (NE-2) launched a bipartisan “Unity Commitment” which commits Members to respecting the results of the 2024 presidential election, attending the inauguration, and serving as a voice for calm, regardless of who wins. The full “Unity Commitment” can be found here, which 32 […]



Sep 12, 2024
Press

RELEASE: Gottheimer’s Bipartisan FIRE Cancer Act Introduced in the Senate by Helmy and Booker

Above: Gottheimer in Hackensack announcing his new FIRE Cancer Act to provide all firefighters with early cancer detection tests. WASHINGTON, D.C. — U.S. Congressman Josh Gottheimer announced that his bipartisan Firefighter Investments to Recognize Exposure to Cancer Act (FIRE Cancer Act), has been introduced in the Senate by Senator George Helmy (D-NJ). The FIRE Cancer Act will save […]



Sep 11, 2024
Press

RELEASE: Three Gottheimer-Led Amendments Pass, Strengthening the U.S.-Taiwan Relationship and Targeting CCP Economic Espionage

Above: Gottheimer advocates for public-private coordination in the fight against Chinese economic espionage. WASHINGTON, DC — U.S. Congressman Josh Gottheimer (NJ-5) led three amendments, focused on strengthening the U.S.-Taiwan relationship and targeting the CCP’s economic espionage. These amendments passed under H.R. 1516, DHS Restrictions on Confucius Institutes and Chinese Entities of Concern Act, and H.R. 1398, America’s Innovation and Economic […]