Steven Holt: “Instead of focusing on job creation, innovation, retirement security or fair taxes, today we're considering legislation…”

“Instead of focusing on job creation, innovation, retirement security or fair taxes, today we're considering legislation that would terminate a program that has the potential to help struggling homeowners stay in their homes. We are not here to debate fixing the program or to consider replacing it with a more effective alternative; but, rather, we're here to end the program that is only a few months old, to declare it a failure and go home. This is not good government. It will not help the middle class. This is not what my constituents sent me to Washington to do. New Jerseyans, as so many around the country, are burdened by high property taxes. While we allow individuals who itemize their Federal taxes to deduct State and local taxes, many non-itemizers--particularly retirees on fixed incomes--feel the impact of high rates. The amendment before us that I present would provide real help to millions of homeowners, especially senior citizens, across the country and, yes, in central New Jersey, my district. Specifically, my amendment would renew for 5 years the property tax deduction for American homeowners who don't itemize on their Federal taxes.”