RELEASE: Gottheimer: “Tax Hike Bill is Nail in the Coffin for NJ”

Continues Fight for Lower Rates for Jersey and Bipartisan Tax Reform

WASHINGTON — Following his “nay” vote on the House’s Tax Hike Bill, Congressman Josh Gottheimer (NJ-5) released the following statement panning the bill:

“Every New Jersey taxpayer should be furious that this bill passed, today. I do not know how to ring the bell any louder on this six alarm fire Tax Hike Bill. When you look at the deductions lost for state and local taxpayers, for seniors with medical expenses, for homeowners with mortgages, and small businesses, it’s undeniable that this Tax Hike Bill is another nail in the coffin for New Jersey. Our taxes are going to go up, on average, on every resident in my District. Businesses and families are going to pack up and move out at record rates. Home prices could go down by more than ten percent. And our seniors are going to see their medicare benefits decimated. There’s a reason business groups like the New Jersey Chamber of Commerce and the New Jersey Business and Industry Association are standing up against it. Across the board, it raises taxes on New Jersey families.

“From day one, I’ve stated that I want to get to yes on a bill that brings actual tax cuts to Jersey families and businesses. I’ve met with many CPAs and tax experts. My office has done the math. If you’re a cop and a teacher in Paramus, own your home, and donate to your local church, your taxes will likely go up about $5,500. If you’re a widowed senior living in Allendale and your pension and Social Security pay $75,000 a year – but have expenses like supplemental health plans and prescription drugs – your taxes will likely go up $1,500 a year.  Your home’s value will go down.

“In New Jersey, we need tax reform that simplifies our code and cuts taxes for families and businesses of all sizes, in a fiscally-responsible manner that doesn’t blow a $1.5 trillion hole deficit. But, according to Republicans and Democrats alike, this Tax Hike Bill does the opposite. It’s why the police, firefighters, teachers, accountants and others groups are all opposing. Its why every Democrat and all but one Republican in New Jersey voted against this Tax Hike Bill. It’s why I set up a tax hotline and a tax blog to answer questions my constituents might have through this tumultuous time period — and calls are pouring in. And it’s why I am working hard, across the aisle, to fix this tax hike bill, so that it actually cuts taxes for New Jersey.

“I will continue to pursue my bipartisan Anti-Moocher Bill that would make sure those of us who are paying too much get a break — instead of piling money into the pockets of Moocher states like Alabama and Mississippi. And it’s why I’m proud to say that I voted against Tax Hike Bill.”