Political Quotes

“On this fourth day of SALT, my constituents have said to me that the SALT cap has impacted their ability to engage in charitable giving. Capping SALT deductions will substantially reduce the number of itemizers and, therefore, will reduce the number of households that will benefit from the tax incentive for charitable giving. The Tax Policy Center estimates that only 8 percent of all households will take the charitable gift deduction in 2018, compared to 21 percent in 2017. While people give generously to charities for many reasons, studies clearly show a positive relationship between the existence of a tax incentive and the amount donated. The reductions in giving that will result from this bill will be devastating to charities and to the people, communities, and causes that depend on them. New Jersey's charities and nonprofit organizations provide critical services to our community that range from providing support services to individuals suffering from addiction to providing shelter for battered women and their children and providing disaster relief. Additionally, New Jersey charities employ almost 10 percent of the State's private workforce. The programs, services, and economic benefits provided by nonprofits are critical factors in making New Jersey an attractive place to live, work, or start a business. The SALT cap puts all of this at risk. ____________________”