MacArthur Statement on The Tax Cuts and Jobs Act
MacArthur Statement on The Tax Cuts and Jobs Act
WASHINGTON –Today, Congressman Tom MacArthur voted in favor of The Tax Cuts and Jobs Act, which is the first meaningful overhaul of America’s tax code in 31 years. He specifically discussed his successful efforts to restore the deductibility of property taxes, which led to a compromise that benefits all property owners in South Jersey.
The average homeowner in Burlington and Ocean Counties respectively pay $6,682 and $6,102 in property taxes annually, and the amended tax bill allows a deduction of $10,000, while also completely eliminating the AMT, which has trapped increasing numbers of working families.
Congressman MacArthur explained, “Our tax code hasn’t been updated in 31 years—it’s outdated, over-complicated and needs to change. It burdens working Americans with sky-high rates and is filled with special loopholes that benefit the favored few. The Tax Cuts and Jobs Act puts an end to this. It provides real relief for families and businesses—by simplifying the tax code, reducing rates, doubling the standard deduction, providing tax credits for childcare and care of adult dependents, and eliminating the AMT that has trapped working families.”
“I came to Washington, D.C. to get things done and work to improve the lives of my constituents, not walk away from tough fights. Months ago, some in my own party wanted to eliminate the state and local tax deduction, which would have had a devastating impact on the overburdened taxpayers in New Jersey. After months of negotiations with The White House and House Leadership, I was able to successfully restore the property tax deduction, which will benefit all South Jersey property owners.”
“In the end, we built consensus, got results, and working families will reap the benefits, while enjoying significant rate cuts on their income taxes.”
“Congressman Tom MacArthur has worked tirelessly to ensure property tax deductions are included in our tax reform plan,” said Chairman of the House Ways and Means Committee, Congressman Kevin Brady. “I appreciate his leadership as we work to pass historic pro-growth tax reform.”
Below you will find a timeline outlining some of Congressman MacArthur’s specific efforts on this issue.
On Background:
June 16th-Urged Secretary Mnuchin in a public letter to keep the SALT deduction in any tax reform plan.
June 29th– FSC Member Breakfast with Secretary Mnuchin. Rep MacArthur spoke with Secretary Mnuchin about SALT
July 24th– MEETING with Chairman Brady and Speaker Ryan on SALT
September 27th BCT: Trump, GOP tax plan cuts rates but eliminates state and local tax deduction
Rep. Tom MacArthur, R-3rd of Toms River, who is credited with playing a key role in advancing the party’s health care repeal and replace legislation from the U.S. House, has pledged to try to pressure leaders such as House Speaker Paul Ryan into compromising by allowing homeowners to continue to deduct their property taxes.
He planned to make his case Wednesday while attending a Republican retreat at the National Defense University in Washington with Vice President Mike Pence, House Speaker Paul Ryan and other Republican leaders.
“I’m still concerned about losing the state and local tax deduction,” MacArthur said Tuesday before the plan was unveiled. “One reason I’m going (to the retreat) is so I can hopefully get some traction maybe on the property tax side.”
“This is about being loud enough and annoying enough,” he added
September 27th Business Insider: Trump’s tax plan is ‘so good’ that a New York Republican is willing to make a big concession
New Jersey Republican Reps. Tom MacArthur and Rodney Frelinghuysen, along with a handful of other lawmakers, said earlier this month in a letter to Treasury Secretary Steven Mnuchin that eliminating SALT “unfairly penalizes residents in high-tax states like New York, California, Illinois, and New Jersey, where middle-class families can least afford another tax increase.”
September 27th – GOP Member Tax Reform Retreat. Rep. MacArthur spoke with members of leadership about tax reform
September 28th: Politico: First GOP tax reform feud erupts over state, local tax break
“I’m going to fight this out and hopefully have success in getting this restored,” said New Jersey Republican Tom MacArthur, a leader of the effort. “I am going to do what I can to rally states like New Jersey and New York, Pennsylvania, California, Illinois, Connecticut.”
MacArthur has been pressing Ryan and Brady on the issue for weeks and also met with Treasury Secretary Steven Mnuchin and White House economic adviser Gary Cohn, who are also insistent about ending the break, saying it mainly benefits upper-income taxpayers.
He’s also coordinating with other GOP House members whose constituents face the same concerns, so they can make a concerted case.
MacArthur has floated one alternative to create a single homeowner deduction that would let taxpayers pair their property taxes with interest they pay on their mortgages. New Jersey has higher property taxes than any other state.
Brady said Republican leaders “are going to continue to listen to Congressman MacArthur and others from the high-tax states.
October 2nd: Philly.com :Fight over state and local tax deduction poses dilemma for region’s Republicans
Rep. Tom MacArthur, a Republican who represents parts of Burlington and Ocean Counties, is pressing to keep the deduction for property taxes, even if that means losing the ability to write off state income taxes. “There’s a clear public policy interest in the federal government encouraging homeownership, within people’s means,” MacArthur said. “It creates stable, good communities when people are invested in their own homes, and we should encourage that.”
October 3rd – MEETING with Chairman Brady on tax reform
October 5th – MEETING with Leader McCarthy, Majority Whip Scalise, Chief Deputy Whip McHenry and Chairman Brady on tax reform
October 11th – PRESENTATION at GOP Conference Meeting on tax reform Rep. MacArthur explained how New Jerseyans give more to the Federal Government than they get back and stressed how it’s unfair to say low tax states subsidize high tax states
October 12th – MEETING with Leader McCarthy, Majority Whip Scalise, Chief Deputy Whip McHenry and Chairman Brady on tax reform
October 13th: AP: GOP tax-cut plan costly for New Yorkers
There’s a number of proposals on the table,” said Rep. Tom MacArthur, R-N.J., emerging from the meeting of his colleagues from high-tax states with GOP leaders.
“There’s more than one way to skin this cat,” MacArthur said, but added, “It has to be soon.”
October 19th: North Jersey: Analysis: N.J. Republicans battle Trump and party over important deduction in tax plan
“I’m being a pain in the ass about it,” MacArthur said. “The people of New Jersey can’t take it on the chin in this tax reform. I’ve told the House leadership: Don’t think you can send me just anything and count on my vote for it.”
October 22nd –GOP Member Conference Call with President Trump to discuss the Budget and Tax Reform
October 24th: MEETING with Vice President Mike Pence on Tax Reform
Star Ledger: MacArthur met with Vice President Mike Pence one-on-one at the White House Tuesday to discuss a way forward on tax reform and also participated in a meeting with House GOP leadership and taxwriters with other blue-state Republicans.
October 24th: CNN: Republican group threatens to block budget over tax deduction fight Threatening the GOP’s top priority of passing major tax reform, Republican Rep. Tom MacArthur warned Tuesday night that so many House Republicans are frustrated with plans to nix a popular deduction, they could block the budget this week.
October 25th: MEETING with Chairman Brady
Fox Business: “I met with Brady yesterday (Wednesday) and I asked him if we would have a proposal and he said ‘I don’t think the committee will have the numbers yet.’ I said then ‘why do we have to do this meeting?,’ he said. “My first reaction when he said this was ‘Kevin we’ve been talking about this for 11 weeks.’ My second reaction was ‘don’t waste our time for the meeting if you don’t have anything to suggest.’ That’s when they decided to call off the meeting. Consequentially I then voted against the budget,” MacArthur added
October 26th: MEETING Rep. Tom MacArthur met with House Leadership— Leader McCarthy, Majority Whip Scalise, Chief Deputy Whip McHenry and Chairman Brady on tax reform.
October 27th: CALL with Chairman Brady on tax reform
October 31st: MEETING with Deputy Whip Patrick McHenry on Tax Reform
November 3rd– CALL with Chief Administration Economic Advisor Gary Cohn on Tax Reform
November 13th-MEETING with Secretary Mnuchin on Priorities during House-Senate Conference
