Sherill, Gottheimer and King Move to Keep Treasury From Blocking Charitable Contributions

August 10, 2019 by Sean Trambley

Representatives Mikie Sherrill, D-N.J., Josh Gottheimer, D-N.J., and Peter King, R-N.Y., have introduced H.J. Res. 72 to overturn U.S. Treasury Department regulations that bar the deduction of charitable contributions from federal taxes. 

The bipartisan action comes after the Treasury, in June, barred municipalities from creating work arounds to help residents negatively affected by the 2017 state and local tax (SALT) deduction cap. 

The Congressional Review Act of 1996 (CRA) establishes procedures by which the House and Senate may strike down regulations issued by federal agencies. Agencies still wishing to enforce the regulation are then given 60 days to submit it to Congress for its consideration. 

If the disapproval resolution is passed by both chambers, the rule cannot take effect and the agency is barred from issuing a substantially similar rule without subsequent statutory authorization.

The 2017 Tax Cuts and Jobs Act imposed a $10,000 cap on federal income tax deductions for state and local taxes. The state and local tax deduction cap impacts 11 million Americans who were unable to deduct more than $323 billion in state and local taxes.

“The state and local tax deduction cap has placed a significant burden on residents in my community,” Representative Sherrill said. “I hear it from parents who wonder how they are going to afford to send their kids to college and teachers who ask me how they can continue to make New Jersey their home. The U.S. Treasury Department’s wrongheaded decision to bar states from utilizing charitable deductions impacts Americans across the country. It was done without congressional input and our resolution will give power back to states like New Jersey to address the high cost of living — only made worse by the loss of the full SALT deduction in 2017.”

“I have continued to hear from cities and towns across the Fifth District that the Treasury Department’s regulatory overreach is stopping them from being able to provide actual tax relief for our hardworking Jersey families. With today’s bipartisan resolution, I’m digging in and fighting back with Rep. Sherrill, and with our colleagues in the Senate like Sen. Schumer, Sen. Menendez, Sen. Booker, and so many others,” said Representative Gottheimer. “Simply put, Congress didn’t give the IRS permission to interpret the tax law as they see fit. Today’s resolution builds upon all of my efforts to, once and for all, give people the tax cuts they need and deserve.”

Full text of the House Resolution can be viewed here

Forty-Seven Members of the U.S. House of Representatives joined as original co-sponsors, and Members of the U.S. Senate introduced a companion resolution.

Congress

Sherill, Gottheimer and King Move to Keep Treasury From Blocking Charitable Contributions Congress
Sherill, Gottheimer and King Move to Keep Treasury From Blocking Charitable Contributions
August 10, 2019
by Sean Trambley

Representatives Mikie Sherrill, D-N.J., Josh Gottheimer, D-N.J., and Peter King, R-N.Y., have introduced H.J. Res. 72 to overturn U.S. Treasury Department regulations that bar the deduction of charitable contributions from federal taxes.  The bipartisan action comes after the Treasury, in June, barred municipalities from creating work... Read More

Done Deal: Senate Passes Two-Year Budget Agreement Budget
Done Deal: Senate Passes Two-Year Budget Agreement
August 1, 2019
by Dan McCue

WASHINGTON - Despite pushback from conservative Republicans, the budget and debt ceiling deal struck by the White House and House Speaker Nancy Pelosi, D-Calif., easily passed the Senate Thursday afternoon. Even with fears that the vote in the Senate would be tight, the legislation passed 67-28,... Read More

Senate GOP Blocks Bid to Pass TPS for Venezuelans U.S. Senate
Senate GOP Blocks Bid to Pass TPS for Venezuelans

WASHINGTON — The U.S. Senate will leave for a six-week break without passing a bill to grant Temporary Protected Status, or TPS, for Venezuelans even though the House of Representatives passed a similar measure last week. Two Democratic senators, Bob Menendez of New Jersey and Dick... Read More

Industrial Emissions Targeted in New Bipartisan, Bicameral Legislation Climate
Industrial Emissions Targeted in New Bipartisan, Bicameral Legislation
July 30, 2019
by Sean Trambley

Last week, a bipartisan, bicameral coalition led by freshman Representative Sean Casten D-Ill., introduced legislation aimed at encouraging innovation that will reduce greenhouse gas emissions from industrial sources. Casten and his counterparts in the Senate, Senators Sheldon Whitehouse, D-R.I., and Shelley Moore Capito, R-W.Va., believe their... Read More

House Working Group Says It's Making Progress On NAFTA Replacement Trade
House Working Group Says It's Making Progress On NAFTA Replacement
July 30, 2019
by Dan McCue

WASHINGTON - A House working group formed to negotiate changes to President Donald Trump's proposed U.S.-Mexico-Canada trade agreement told House Speaker Nancy Pelosi last week that while it's made substantial progress, it's still waiting for a counter proposal for requested changes from the White House. The... Read More

McConnell Bristles At ‘Hyperventilating Hacks’ Criticizing His Blocking of Election Security Bills U.S. Senate
McConnell Bristles At ‘Hyperventilating Hacks’ Criticizing His Blocking of Election Security Bills

WASHINGTON — Senate Majority Leader Mitch McConnell did something Monday he rarely does — get riled up and respond directly to criticism as he defended his decision to block election security bills last week that Democrats attempted to bring to the floor by unanimous consent. He... Read More

Straight From The Well
scroll top