Dear Secretary Yellen:
Repealing the SALT cap and investing in infrastructure is critical to the future of New Jersey middle-class families and small businesses. New Jersey residents and businesses are leaving the State and frequently cite the dilapidated infrastructure and transportation system and the State and Local Tax (SALT) deduction cap for driving factors in their decision. The State’s population growth is well below projections that were made before the SALT cap came into effect, and even before the COVID-19 pandemic ravaged the state, the shortage of workers negatively impacted businesses. New Jersey cannot afford any more years of inaction; we must address the region’s crumbling bridges, roads, and tunnels. When looking for how to responsibly fund infrastructure and SALT, the Administration should support an aggressive move to close the tax gap, including hiring additional IRS agents to enforce current tax laws.
Gottheimer Secures Treasury Secretary s Commitment to Address SALT Deduction Cap Hurting New Jersey Families
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Gottheimer Helps Unveil New Bipartisan Legislation to Fully Restore the SALT Deduction, Provide New Jersey Families a Tax Cut
By JAMES ADAMS
Credits: Provided
January 31, 2021 at 3:43 PM
WASHINGTON, D.C. Today, U.S. Congressman Josh Gottheimer (NJ-5) joined a bipartisan group of six other Members in the House to introduce the SALT Deductibility Act, a bipartisan bill to fully restore the full State and Local Tax (SALT) deduction. The proposal would allow taxpayers to fully deduct their state and local taxes on their federal income returns, end double taxation, and give families in Northern New Jersey a tax cut. In 2017, the deduction was gutted and capped at $10,000 by the Moocher States and resulted in a tax hike for many middle-class families.
deductions. they pick up the tab for the moocher states that we always pay the bill for. i want to go back to this story for a moment. stanley, let s take the other side of the coin. if you re ty cobb and we know the president doesn t like tough conversations. he doesn t like bad news. he sends people packing who try to deliver tough talk. if you re one of these two guys, what are you saying to the president? because these guys have been saying for months this investigation is almost over. it s not. well, the timing of the investigation is really important for all the reasons we re talking about. one of the reasons you want to ask at this point is why is this discussion happening now? typically the prosecution does not get to the top of the pyramid, that would be the president, until you re close to the end of the investigation. so why are these discussions happening now? is that a signal that mueller is, in fact, getting closer to wrapping this up, which would be a bit of a surpri
says this state is going to sue over the new law calling it unconstitutional and an assault on new york. you just mentioned these moocher states and how this tax law takes advantage of blue states like yours. where s chuck schumer on this? because i spoke to someone inside the white house who worked on tax reform who early on said yes, i know the state and local tax thing, people aren t going to like it, but let s see what chuck schumer has to say, assuming that chuck schumer would fight it, fight it for new yorkers. but he really didn t. well, i m not going to speak to what chuck did. i think he was actually out there fighting the elimination. let s talk about what we need to do now. just like any business or anybody else who s looking for how to make sure we study every aspect of this new tax hike bill, let s look at how we can fight in new jersey and other states and make sure we get back tax cuts for our people in the case they try to stick it to us. why are people leaving new
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