July 23, 2024
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Pascrell Demands SALT Cap Removal

U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), New Jersey’s only member of the tax-writing House Ways and Means Committee, spoke at a hearing of the House Ways and Means Subcommittee on Select Revenue Measures, “How Recent Limitations to the SALT Deduction Harm Communities, Schools, First Responders and Housing Values.” Pascrell assailed the Republican tax scam of 2017 and how its capping of the State and Local Tax Deduction, or SALT, has harmed middle-class New Jerseyans and communities. Pascrell also discussed his legislation, H.R. 1142, which would remove the onerous SALT caps.

“We need a fix, and I have one. My bill, H.R. 1142, would bring back the full SALT deduction—and it’ll do it by restoring the top individual tax rate on top earners,” Rep. Pascrell said. “The Joint Committee on Taxation estimates that this provision would raise about $217 billion over 10 years. We have 46 bipartisan cosponsors currently and momentum is growing behind it.”

The hearing came after Pascrell and his colleagues repeatedly called for removing the caps imposed on 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 co-sponsored by 13 senators.

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