Gottheimer, Lance Announce "Anti-Moocher Bill" to Claw Back Tax Dollars
Today, Congressmen Josh Gottheimer (NJ-5) and Leonard Lance (NJ-7) announced the "Anti-Moocher Bill" they are cosponsoring, officially known as the "Return on Investment Accountability Act." The bill would address the disparity in federal spending between states by giving refundable tax credits to eligible recipients whose states get less funding from the federal government than the taxes they pay in aggregate.
"New Jersey is one of the top tax paying states in the nation, which is why I've been pushing for years to cut taxes for residents and for businesses of all sizes," said Congressman Josh Gottheimer (NJ-5), "And now they want to hit us again by killing the state and local tax deduction -- a provision that has been around since 1913. It's a joke. That's why Leonard Lance and I have introduced new legislation -- the 'Return on Investment Accountability Act,' our Anti-Moocher bill -- that will address this disparity in federal spending and taxes in the states."
Continued Congressman Gottheimer, "I'm prepared to support the right tax bill. But it must be the right tax reform. It must be bipartisan, it must cut taxes for New Jersey. It must be pro-business. It must stand up for hard working folks who play by the rules. And it must not favor one state over another, and push people and businesses away from New Jersey. No one can stop New Jersey -- unless you literally tie our hands behind our back and throw us in the Hudson. But eliminating the states and local tax deduction is cement shoes."
"Today, the New Jersey delegation recognized that the elimination of SALT is extremely harmful to our state." said Congressman Leonard Lance (NJ-7). "We should not pay taxes on taxes. And that would be what would happen if SALT were eliminated... We need to have basic fairness in this regard... I hope that colleagues from across the Country, both Republican colleagues of mine and Democratic colleagues on the other side of the aisle, will recognize that a continuation of SALT is in the best interest of the American People."
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