Gottheimer Votes for Tax Cuts for New Jersey

Sep 27, 2018
Press

Today, Congressman Josh Gottheimer (NJ-5), after voting for the Family Savings Act and the American Innovation Act, released the following statement:

“I came to Washington to lower taxes for New Jersey and I’m proud that today Congress passed common sense tax cuts that take care of New Jersey businesses, families, and individuals. Thanks to today’s tax cuts, it’s easier to retire in New Jersey, it’s easier to hire in New Jersey, and it’s easier for families to save for college.”

The Family Savings Act of 2018 (H.R. 6757) would give individuals more flexibility to save for retirement and provide incentives for businesses to offer more retirement plans through new joint programs. The measure would also expand the eligible uses of 529 education savings plans and establish universal savings accounts to encourage individual savings. Additionally, it would allow individuals to temporarily withdraw money from their retirement accounts following a birth or adoption, and would modify contribution limits and mandatory minimum distribution requirements for older Americans.

The American Innovation Act of 2018 (H.R. 6756) would help startups and small businesses by increasing the value of deductions for businesses’ initial costs. Businesses could deduct as much as $20,000 in combined startup and organizational expenditures, a fourfold increase.

Recent Posts


May 24, 2024
Press

RELEASE: Gottheimer Joins Congregation Bnai Yeshurun to Discuss Rising Antisemitism and Standing Against Hate at Home

Above: Gottheimer speaking at Congregation Bnai Yeshurun. TEANECK, NJ — U.S. Congressman Josh Gottheimer held a fifth community discussion at Congregation Bnai Yeshurun. Gottheimer dialogued with Rabbi Elliot Schrier about rising antisemitism — online, on campuses, and in North Jersey communities — and his work to combat it. During the event, Congressman Gottheimer highlighted the record […]



May 23, 2024
Press

RELEASE: Gottheimer, D’Esposito Introduce New Legislation to Hold the MTA Accountable for its Hypocrisy

Above: Gottheimer and D’Esposito announcing new legislation to stop MTA CEO Janno Lieber from using federal funds for a taxpayer-funded vehicle. WASHINGTON, DC — Today, Thursday, May 23, 2024, U.S. Representatives Josh Gottheimer (NJ-5) and Anthony D’Esposito (NY-4) introduced new legislation to stop MTA CEO Janno Lieber’s continued Congestion Tax hypocrisy. While hardworking commuters, nurses, teachers, […]



May 22, 2024
Press

RELEASE: House Passes Gottheimer-led Bipartisan Legislation to Modernize Crypto Regulation and Protect Consumers

Above: Gottheimer on the House floor. WASHINGTON, DC — Today, Wednesday, May 22, 2024, the Financial Innovation and Technology for the 21st Century Act (FIT21), which U.S. Congressman Gottheimer helped negotiate in the Financial Services Committee, passed the House with bipartisan support. This bipartisan legislation clarifies regulation for digital assets, bolsters consumer protection, and ensures […]