U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), New Jersey’s only member of the tax-writing House Ways and Means Committee, commented favorably on state and local tax (SALT) deduction proposals being considered as the House finalizes the Build Back Better Act.
“We can finally see text in black and white and one of our top priorities is close,” said Rep. Pascrell, who led the fight against the GOP Tax Scam. “That our Build Back Better bill will offer meaningful tax relief to our neighbors cruelly crushed by the Republican Tax Scam of 2017 is welcome news. Republicans raised taxes on the middle-class and we are lowering them. From day one this issue has been about lifting up our middle-class and reinstating centuries-old tax policy. As SALT aid being considered by the Rules Committee today shows, we’ve never lost sight of that goal. Nearly every New Jersey family will see relief from our plan. The House should quickly take up and enact our Build Back Better bill so the Senate can pass it expeditiously and we can sign these historic investments into law.
“I also welcome the proposal put forward by Senator Menendez to permanently repeal the SALT cap consistent with President Biden’s promise not to raise taxes on those making under $400,000. This is another viable solution to help middle-class New Jersey families.
“But let us be clear: our quest for meaningful SALT cap relief was made more difficult by those who helped shrink the overall size of Build Back Better and knocked out the straightforward tax increases on the wealthiest Americans who would pay their fair share.”
Original source can be found here.
