Restoring Tax Fairness for States and Localities Act

Floor Speech

BREAK IN TRANSCRIPT

Mr. GOTTHEIMER. Madam Speaker, I rise today in support of H.R. 5377 to finally deliver the tax cuts so desperately needed for families and businesses in my district in northern New Jersey.

I thank Chairman Neal for his leadership on this legislation which will ultimately save the Fifth District tax filers $5.6 billion each year. That is just in my district alone.

Today, I released a tax cut model to show, at every income level, the massive tax cuts that families in the Fifth Congressional District of New Jersey will see as a result of this bipartisan bill. Not only will this bill cut taxes, but it also helps increase our property values and drives economic growth, which is why the New Jersey Chamber of Commerce and the New Jersey Realtors have both come out in support of the legislation.

We have to fix the mess caused by the 2017 tax hike bill in the moocher States and provide actual tax cuts for New Jersey families, first responders, and small businesses.

Ever since I joined Democrats and Republicans in voting against the tax hike bill, I have been fighting to fully reinstate SALT and finally cut taxes for north Jersey families. It is time we fought back against the moocher States who literally stole $800 billion right out of our pockets. I am sick and tired of paying the bill of the moocher States. This is a huge win for New Jersey families and an actual tax cut.

Madam Speaker, I urge my colleagues to vote ``yes.''

BREAK IN TRANSCRIPT

Source