Representative Sherrill’s SALT Bill Receives AFT, Realtors Endorsement
Washington, DC – On May 10th, Representative Mikie Sherrill (NJ-11) introduced the bipartisan SALT Relief and Marriage Penalty Elimination Act (H.R. 2624) to provide tax relief to New Jersey residents, and today she announced endorsements from the American Federation of Teachers (AFT) and the National Association of Realtors.
Eleven million Americans were hit by the $10,000 state and local tax (SALT) deduction cap in the 2017 Tax Cuts and Jobs Act. Representative Sherrill’s bill takes a first step toward restoring the full deduction by raising the SALT cap to equal the standard deduction: $24,000 for joint filers, $18,000 for heads of household, and $12,000 for individuals.
“Families in my community have seen their taxes go up because of the SALT deduction cap and as a result are questioning whether or not they can afford to live in New Jersey,” said Representative Sherrill. “The loss of the full SALT deduction puts an undue hardship on them. I’m proud to have the support of the American Federation of Teachers and the National Association of Realtors because they understand that the SALT Relief and Marriage Penalty Elimination Act is a critical first step towards middle-class tax relief.”
“For more than 100 years, the state and local tax deduction has supported important state and local investments in public schools, healthcare, law enforcement, infrastructure and other vital services,” said Randi Weingarten, President, American Federation of Teachers, AFL-CIO. “The deduction has been used by about 44 million Americans, helping to avoid a double hit to middle-class families by both taxing them and cutting their local public schools and services. Middle-class families and their communities deserve better. I am pleased to support the SALT Relief and Marriage Penalty Elimination Act and urge its passage.”
“For millions of Americans, limiting the state and local taxes that can be deducted greatly diminished or erased the long-standing tax incentives of owning a home,” said John Smaby, 2019 President, National Association of REALTORS. “By tying the SALT limit to the standard deduction, the amount of the deductible limit would be increased, which would allow many more current and prospective homeowners to regain the homeownership incentive that our tax law has provided for decades. We thank Representative Sherrill for her leadership in helping to ensure our tax system helps families afford a home – a vital part of the American Dream.”
This is the second announcement of support for the SALT Relief and Marriage Penalty Elimination Act. In May, the National Association of Counties endorsed Representative Sherrill’s bill.
Representative Sherrill is committed to fighting for New Jersey families, and to working in Congress to address the SALT deduction, move forward on transportation infrastructure funding, and improve healthcare for all Americans.