Sherrill, Helmy Team Up to Continue the Fight to Restore the SALT Deduction
Sherrill, Helmy Team Up to Continue the Fight to Restore the SALT Deduction
WASHINGTON, DC – Last week, Congresswoman Mikie Sherrill’s (NJ-11) bipartisan Tax Relief for Middle Class Families Act – legislation that will eliminate the State and Local Tax (SALT) Deduction Cap for 99% of New Jersey families – was introduced in the Senate by Senator George Helmy (D-NJ). Sherrill has been a longtime leader in the fight to restore the tax deduction and end double taxation of New Jerseyans since it was imposed on Garden State families by Donald Trump’s 2017 Tax Cuts and Jobs Act.
“Securing SALT relief for New Jersey families from Trump’s disastrous tax bill has been a top priority of mine since I first took office. That’s why as part of my Jersey STRONG Agenda – the first five bills I introduced in this Congress to address pressing challenges facing New Jersey families – I introduced the bipartisan Tax Relief for Middle Class Families Act, which will allow 99% of NJ-11 families to fully deduct their state and local taxes and make life more affordable across our state,” said Rep. Sherrill.
“When Democrats had the House majority, I led successful efforts to pass SALT relief twice. I am grateful to Senator Helmy for advancing this important legislation in the Senate and bringing us one step closer to lifting this unfair double tax on New Jerseyans. I will continue to fight to get this bill across the finish line – because middle class New Jersey families should not be penalized for the investments we make in our communities, our infrastructure, and our best-in-the-nation public school system,” Sherrill continued.
“Some of New Jersey’s most essential workers, including our teachers, nurses, firefighters, law enforcement officers, veterans, and public servants, are struggling to make ends meet due to the rising price of the cost of living over the past few years,” said Senator Helmy. “The Tax Relief for Middle Class Families Act will help ease the tax burdens of New Jersey homeowners and provide meaningful financial relief. I will continue to do what I can to support New Jersey families during my time in office.”
In 2017, the GOP’s Tax Cuts and Jobs Act imposed a harmful double tax and one of the largest marriage penalties in the tax code by capping the state and local tax deduction at $10,000/household. According to the Treasury Department, the SALT cap has prevented more than 11 million Americans from deducting over $300 billion in state and local taxes.
Since then, Rep. Sherrill has helped to pass through the House two separate pieces of legislation that would eliminate the SALT cap for the vast majority of New Jersey families through the Restoring Tax Fairness for States and Localities Act and Build Back Better Act. She has also introduced two bills – the SALT Relief and Marriage Penalty Elimination Act and Tax Relief for Middle Class Families Act – that would end the SALT marriage penalty and provide substantial relief to families. She is also the only Democrat to be an original co-sponsor of the SALT Marriage Penalty Elimination Act. Furthermore, Rep. Sherrill led efforts in both the FY 2023 and FY 2024 Appropriations bills to include language prohibiting the IRS from putting restrictions on SALT relief delivered by state and local governments.