Pallone Holds Teach-in on GOP Tax Scam

Jan 12, 2018

Long Branch, NJ – Today in Asbury Park, Congressman Frank Pallone, Jr. (NJ-06) held a tax Teach-in on the GOP Tax Scam with policy experts from New Jersey Policy Perspective and New Jersey Citizen, local officials and New Jersey residents. The event was an opportunity to inform constituents about the devastating impact of the GOP Tax Scam. Numerous studies have found that the GOP Tax Scam is especially disastrous for New Jersey due to its limits on many crucial deductions including state and local taxes and property taxes.

 

“I want to thank all those who took part in my tax teach-in today,” said Pallone. “The more the American people learn about the GOP Tax Scam the more they understand just how unfair it is. I continue to be inspired by so many New Jerseyans who are getting involved in our democracy and I believe that their voices will help to get the word out on this crucial issue.

“We should be striving to help working families, not giving huge tax breaks to the rich and targeting programs like Medicare and Medicaid. I will continue to stand up for seniors and working people who are being abandoned and against giveaways to millionaires, billionaires, and multinational corporations.”

The event was broadcast on Facebook Live and can be viewed here.

New Jersey Policy Perspective (NJPP) released a comprehensive report in December covering the effects of the Republican tax plan. NJPP found that the tax plan would:

·         Raise taxes for the average middle-class and low-income New Jersey family while cutting taxes for wealthier families and for large corporations.

·         Increase the number of New Jerseyans without health insurance by 340,000 by 2027 as a result of the repeal of the Affordable Care Act’s individual mandate

·         Create deep and devastating budget cuts that would harm working families across New Jersey.

The tax scam exposes millions of hardworking Americans to double taxation by imposing a cap on the SALT deduction for individual taxpayers for the first time since this deduction was first implemented more than a century ago. Because of deep cuts to the State and Local Tax deduction, taxes on working families will go up, while state and local budgets are squeezed – putting schools, local law enforcement, firefighters and other critical public services at risk.