NJ's Gottheimer Has A Plan To Bring Back The SALT Deduction

RIDGEWOOD, NJ — New Jersey Congressman Josh Gottheimer is continuing the fight for the SALT reduction, and he recently announced plans to pay for it.

Gottheimer (NJ-5) and New Jersey Chamber of Commerce President & CEO Tom Bracken joined together to announce support for passing a "robust, bipartisan infrastructure investment package" in Congress that also repeals the cap on the State and Local Tax (SALT) deduction.

The congressman is proposing the federal government address the “tax gap,” or, as his office puts it, the $1 trillion per year difference between taxes legally owed and taxes actually paid.

Gottheimer is cosponsoring the Stop CHEATERS Act (H.R.1200), which would invest in tax enforcement to generate $1.2 trillion in revenue for the federal government.

The congressman also sent a letter to Treasury Secretary Janet Yellen Wednesday. Read it here.

"Any infrastructure legislation we pass in Washington must include a reinstatement of the State and Local Tax deduction and a strong investment in our crumbling infrastructure and transportation," Gottheimer said during an appearance in Ridgewood Monday.

One way to do it? Targeting those who can manipulate the system, he said.

"... We can pay for both by closing tax loopholes and going after all those tax cheats who don’t pay what they should," said Gottheimer.

"I’m focused on finding a bipartisan path forward to, once and for all, getting an infrastructure bill passed and signed into law. Let’s reinstate SALT and fix our infrastructure, and we can do that by filling the tax gap and getting the federal investment we need."

Gottheimer is part of a coalition of New Jersey politicians fighting for the SALT cap.

Recently, Governor Phil Murphy led a coalition of Governors representing states targeted by the Trump Administration's cap in sending a letter to President Biden calling for the elimination of the cap.

And Representative Mikie Sherrill of district 11 led Representatives Tom Malinowski, Josh Gottheimer, Thomas Suozzi, Frank Pallone, Bill Pascrell, Albio Sires, and Dean Phillips in a letter addressed to Yellen.

The New Jersey Chamber of Commerce is also in support of the plan.

"We are in total support of the Congressman’s initiative to stop the SALT penalty hurting our New Jersey citizens in this time of economic distress. Linking the elimination to the President’s infrastructure bill is a very strategic move that we endorse. Additional infrastructure money is key to our state’s economic recovery, so accomplishing that, while eliminating the SALT penalty, is a mission we are glad the Congressman is leading," said New Jersey Chamber of Commerce President & CEO Tom Bracken.

Gottheimer was joined in Ridgewood by Bergen County Commissioner Mary Amoroso, Ridgewood Mayor Susan Knudsen, and Ridgewood Councilmembers Pamela Perron and Lorraine Reynolds.

Watch the event here:

With reporting from Russ Crespolini.