Small Business, Jobs & the Economy
America’s workers are the very foundation of our economy: when they win, America wins. I’m pleased the 116th Congress will see the return of “Labor” alongside Education at the Committee level. I will work to support unions and protect the American worker through project labor agreements, a livable wage, workforce development and a safe work environment.
It’s long past time for our government to prioritize small businesses, which are the true engine of the American economy, instead of big corporations. There are thousands of small businesses all over the Third District and I hope to be a resource to them in improving access to capital, simplifying accounting standards and easing any unnecessary regulatory burdens.
I will support tax reform that focuses on permanent cuts for middle-class families instead of corporations and the ultra-wealthy. I’ll also support repealing the cap on State and Local Tax deductions that have hurt thousands of New Jersey’s families and driven home values down.
Lastly, I’m in favor of a big, bold infrastructure plan to rebuild our crumbling roads, bridges and tunnels. It should deepen and improve our ports, expand access to broadband, improve our power grid and invest in our schools, hospitals and public facilities. Doing so will put millions of Americans to work, boost our economy and improve efficiency and productivity for years to come.
More on Small Business, Jobs & the Economy
Unveiled by the U.S. Treasury and IRS last summer but finalized on Tuesday, the new rules limit how much taxpayers can deduct as charitable giving if they receive a state or local tax credit in return.
Gov. Phil Murphy and members of New Jersey’s congressional delegation are railing against new Internal Revenue Service rules that effectively block states from allowing taxpayers to make charitable contributions in lieu of property taxes as a workaround to the federal government’s $10,000 cap on state and local taxes deduction.
Congressman Kim Calls on Ways & Means Committee to Take Up SALT Bill
WASHINGTON, DC – Yesterday, Congressman Andy Kim (NJ-03) called on the House Committee on Ways & Means to take up legislation to remove the cap on state and local tax deductions and restore tax fairness to New Jersey taxpayers. The testimony was submitted as part of the committee’s “Member’s Day Hearing”, which allows all members of Congress to provide guidance on priorities in their district.