WASHINGTON, DC – U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), New Jersey’s only member of the tax-writing House Ways and Means Committee, today praised the announcement that the House Ways and Means Select Revenue Measures Subcommittee will be a holding a hearing, “How Recent Limitations to the SALT Deduction Harm Communities, Schools, First Responders, and Housing Values” on Tuesday, June 25, 2019 , at 10:00am, in room 1100 of the Longworth House Office Building.
“The federal State and Local Tax Deduction has been a life staple for millions of New Jersey families going back generations. So the Republicans’ move to kneecap SALT to give the wealthiest and corporations an unneeded tax break has blistered my state this year, with taxpayers losing money they earned and our communities being forced into making savage service cuts,” stated Rep. Pascrell. “I am gratified Chairman Neal, Chairman Thompson and my colleagues on the committee recognize SALT’s importance to taxpayers in New Jersey and across America. The Congress needs to hear from the mayors, educators, police officers, firefighters, realtors, and others about how limiting SALT damages our communities. The hearing will also be an important opportunity to highlight my legislation with Senator Menendez that would fully restore SALT.”
The hearing next week comes after Rep. Pascrell and his colleagues have repeatedly called for removing the caps imposed on the State and Local Tax Deduction, or SALT, by the Republican tax scam of 2017. Rep. Pascrell has been a leading a critic in Congress of the Republican tax scam and has repeatedly assailed the capping of the SALT deduction. Pascrell is the lead sponsor of H.R. 1142, the bipartisan Stop the Attack on Local Taxpayers Act of 2019, which would remove the SALT cap. It is currently cosponsored by 45 House members. Companion Senate legislation, S. 437, is sponsored by Sen. Robert Menendez (D-NJ) and currently cosponsored by 13 senators.