Lance Statement on Tax Plan Blueprint

WASHINGTON, D.C. – Congressman Leonard Lance (NJ-07) today released the following statement on an initial tax reform plan announced by the Trump Administration:

“My goals for tax reform are to unleash economic growth, create millions of new jobs and lower the rates on individuals.  I am pleased the President outlined a plan today.  There are parts of it I favor and there are parts of it I think need further debate and examination.

“One provision I oppose is the elimination of the state and local tax deduction.  New Jersey taxpayers would lose under that plan.  I will be a leading voice in negotiations for maintaining that deduction.        

“It has been more than a quarter century since comprehensive tax reform was last enacted in Congress.  It’s time to level the playing field for U.S. companies so they can invest in and create new American jobs and compete with rivals abroad.  And it is time for hard-work to be rewarded and not punished by an outdated system.

“I am eager for this debate to start in Congress.”