Gottheimer Questions U.S. Treasury Secretary Yellen On Disparate Impact of SALT

Yellen “Agrees SALT has had a disproportionate impact on different states” 

WASHINGTON, D.C. — U.S. Congressman Josh Gottheimer (NJ-5) questioned U.S. Treasury Secretary Janet Yellen during a House Financial Services Committee hearing about the disproportionate impact SALT has on hardworking Jersey families. Gottheimer’s question came as the House considers voting on legislation to raise the cap for married couples. Gottheimer also pressed Yellen to confirm that the IRS is ready to implement the cap reduction legislation.

Video of Gottheimer’s questions and Yellen’s answer can be found here.

“There may be a potential vote on SALT legislation, as early as next week. The bill would double the SALT deduction for married couples in 2023 from $10,000 to $20,000. Do you believe that this legislation will help ease the disparate impact of SALT on married couples in Jersey?,” Congressman Josh Gottheimer (NJ-5) asked during the House Financial Services Committee Hearing.

Responding to Gottheimer, U.S. Treasury Secretary Janet Yellen said, “I agree that SALT has had a disproportionate impact on different states.”

In previous hearings with Yellen, Gottheimer asked, and Yellen committed to finding a fair solution for the misguided limit that levees double taxation on constituents.

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