Today, Congressman Josh Gottheimer (NJ-5) released the following statement responding to the Treasury Department's move to block New Jersey's Tax Cut Plan:
"Without any congressional authorization whatsoever, the US Treasury Department just jacked up taxes today on millions of Americans. We will fight these shameless rules and will continue to fight for lower taxes for New Jersey families.
"It’s clear that the IRS agrees with us that it cannot distinguish longstanding tax credit programs from the newer state tax charitable deduction programs. What we cannot stand for, however, is this arbitrary and capricious and procedurally deficient turnabout in tax policy – deviating from the specific language and intent of still fresh tax legislation to serve its cynical political ends.
"Treasury’s arbitrary fiat will encourage more people and businesses to flee New Jersey and leave every other resident of our state holding the bag."