file photo courtesy of Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, the United States Supreme Court rejected New Jersey and other states’ requests to restore the full income tax deduction for state and local taxes (SALT) .
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Republican Candidate for Congress Frank Pallotta took the opportunity to lay into his opponent Congressman Josh Gottheimer, “Congressman Josh Gottheimer’s inability to negotiate even the tiniest sliver of tax relief is indicative of exactly how ineffective he and his administration truly are. The Congressman, who has been talking about restoring the full SALT (State and Local Tax Deduction) for more than 5 years, is no closer now than he was the day he started. He is either unable to pull this off or unwilling to navigate the difficult path necessary to succeed. Solving the SALT conundrum in New Jersey involves not just understanding the critical tax-related implications of the overall path to relief, but having the business experience necessary to negotiate among 435 House and 100 Senate members, to the benefit of both his district and the country.
My plan for SALT relief differs vastly from the Congressman’s failed plan on every level. Josh’s “all-or-none” plan for SALT doesn’t take into account the needs of the 6 out of 10 New Jersey residents who benefitted from the 2017 tax plan. In fact, my opponent, Nick De Gregorio, has already stated that he “agrees with Josh” and that he would use the same strategy that hasn’t worked for five years. My solution involves raising the SALT cap to a level that benefits the greatest number of tax payers while making offsetting adjustments to the standard deduction, as well as the alternative minimum tax construct. Congressman Gottheimer and my opponent both have less than three years’ experience in the private sector under their belts, so maybe that’s the reason they don’t have an answer. Business and real-world experience is critical and entirely relevant in a state and in a job, where you’ll be asked to legislate for working families, to the benefit of all. With nearly 30 years in the private sector, working for both large corporations, and running my own business, I’m the only candidate in the race with the experience, background and knowledge to go to Washington and solve the problems facing out State and our Country.“
No mention of whose tax plan the SALT deduction was kneecapped in, I see.