Local Officials, Union Leaders Highlight Positive Impact of Raising the SALT Deduction Cap
Parsippany, NJ–– Since her first day in office, Representative Mikie Sherrill (NJ-11) has fought to address the harm that the unfair cap on the state and local tax (SALT) deduction, enacted by the 2017 tax bill, has placed on New Jersey families. Last month, she successfully fought to improve the provision to lift the SALT cap and eliminate the impact for almost every family in NJ-11 and keep it included in the final language of the House version of the Build Back Better Act.
Since the beginning of this fight, mayors, local officials, union leaders, and other local stakeholders have been key allies in supporting the effort to address the SALT cap. Today, several of those crucial allies joined Rep. Sherrill in their continued support of this provision and to urge the Senate to keep meaningful relief included in their version of the bill.
"The reinstatement of the SALT deduction is very important to so many residents of New Jersey," said Woodland Park Mayor Keith Kazmark. "Since its elimination in 2017, we've all fought across party lines to reinstate the deduction and reduce the burden on our families. Our community here in Woodland Park truly appreciates the efforts made by Congresswoman Sherrill and the NJ delegation in getting this done."
"I want to thank Congresswoman Sherrill for her relentless efforts to lift the $10,000 SALT cap," said Chatham Township Mayor Stacey Ewald. "NJ has traditionally been a donor state, subsidizing federal money invested in other states. In 2017, before the cap was implemented, NJ received 82 cents for every individual federal tax dollar paid. Post cap, in 2018, that federal investment in NJ schools, transportation, social security, health care programs, etc., went down to 79 cents per federal tax dollar paid. That's $24.9 billion more in federal taxes paid than we got back. It's time to reverse the double tax and put that money back into the pockets of hardworking NJ taxpayers impacted by the SALT cap."
"Whether you're Democrat or Republican, we can all agree that ending Washington's double-taxing of our out of control property taxes is the right thing to do," said State Senator Anthony Bucco (LD-25). "Here in Morris County, it's all about affordability. I, like so many others, hope responsible members in the Senate can come together to fix the SALT deduction cap which will serve as a meaningful and direct property tax cut for seniors, middle class families, and just about every homeowner in New Jersey, especially here in Morris County."
"The SALT deduction cap passed in the 2017 Tax Cuts and Jobs Act unfairly penalizes New Jersey residents whose government robustly funds public safety, education, and other services" said New Jersey League of Municipalities President and Woodbine Mayor William Pikolycky. "Since enactment, the League has strongly advocated for elimination of the SALT deduction cap. Increasing the SALT deduction cap from $10,000 to $80,000 in the Build Back Better Act that passed the House is a positive step so New Jersey residents are not subject to double taxation. We urge the Senate to keep it in the package they consider."
"The Professional Firefighters Association of New Jersey (PFANJ) is proud that our members in Congress were able to increase the limits on the SALT tax deduction," said Matthew Caliente, Treasurer of Professional Firefighters of New Jersey. "We continue to urge the Senate to pass this legislation and include the increased SALT tax deduction provision. The firefighters in New Jersey would benefit significantly from this increase, which was reduced years back, and caused an increase in our tax liability. We work day in and day out to provide safety to the communities we serve; we should not have an increased tax liability while providing an excellent service to the residents of New Jersey."
"Reinstating the SALT deduction would be a win for high cost states such as New Jersey and provide much needed relief for both homeowners and home buyers," said Angela Sicoli, Immediate Past President of NJ Realtors. " We thank Rep. Sherrill for her continued leadership on this issue."
"Educators excitedly anticipate the end of the SALT limitation as we look forward to our communities' continued investment in public education," said Sue Butterfield, President of the Passaic County Education Associations. We want to see the monies that are collected as local taxes and invested in infrastructure upgrades, student supports, and programs aimed at helping all students succeed not also be taxed by the federal government. Ending the SALT limitation puts students first, and we fully support it. Thank you to Representative Sherrill for her advocacy on this issue."
###
Original source can be found here.
