LoBiondo Statement on Tax Reform Bill Introduction in House

Nov 2, 2017

WASHINGTON, D.C. – U.S. Congressman Frank LoBiondo (NJ-02) today issued the following statement regarding the introduction of the “Tax Cuts and Jobs Act” in the House of Representatives:

“President Trump rightly continues to push Congress to reform our tax code, which will spur economic growth and allow most Americans to keep more of their hard-earned money. The bill introduced today preserves tax-free 401k contributions and charitable deductions which are critical to many Americans. However, the elimination of state and local income tax deductions and the $10,000 cap on property tax deductions would be detrimental to New Jersey residents. Thus this bill is not something I could support in its current form. I am working with my fellow New Jersey and New York colleagues on a counterproposal to preserve these deductions and truly make this reform a net positive for the residents of South Jersey.”

 

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