SALT shakeup: Will the Democrats restore the tax breaks that Trump eliminated? | Mulshine
Updated 6:29 AM;
Today 6:29 AM
President Joe Biden and New York Senator Chuck Schumer: The two seem to be on opposite sides of the debate over tax breaks for high-cost suburbs (AP Photo/Alex Brandon)
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So I’ll just say Leonard Lance told you so.
Lance was a congressman from Hunterdon County when his fellow Republican, Donald Trump, proposed the tax reform of 2017.
The plan called for drastically limiting the tax breaks most loved by New Jersey homeowners, the deductions for state and local taxes (SALT for short.)
Government transparency has been a cornerstone of Rep. Tom Malinowski’s congressional tenure.
But the two-term New Jersey Democrat failed to publicly disclose dozens of personal stock trades, an apparent violation of the federal STOCK Act, according to an Insider review of US House financial documents and interviews with Malinowski’s congressional office.
Malinowski’s stock trades in 2020 included more than two-dozen purchases and sales during the first several weeks of the COVID-19 pandemic, according to a five-page spreadsheet Malinowski’s office provided Insider on Wednesday after a reporter asked about his stock activity. The spreadsheet contains stock trade information that does not appear publicly on the US House’s website, as required by law.
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Rep. Tom Malinowski s office blamed an oversight on his failure to disclose stock trades.
By law, members of Congress must publicly disclose their personal stock trades within 45 days.
Failure to publicly report such stock trades may result in investigations or fines.
Government transparency has been a cornerstone of Rep. Tom Malinowski s congressional tenure.
But the two-term New Jersey Democrat failed to publicly disclose dozens of personal stock trades, an apparent violation of the federal STOCK Act, according to an Insider review of US House financial documents and interviews with Malinowski s congressional office.
How New Jersey Averted a Pandemic Financial Calamity
A $44.8 billion spending plan unveiled Tuesday by Gov. Phil Murphy calls for no new taxes and fully funds the state pension program for the first time since 1996.
Gov. Philip D. Murphy of New Jersey released a $44.8 billion budget on Tuesday that shows better-than-expected revenue projections.Credit.Pool photo by Anne-Marie Caruso
Published Feb. 23, 2021Updated Feb. 26, 2021
It has been five months since New Jersey officials warned of a coronavirus-related financial calamity. The dire outlook contributed to lawmakers’ decisions to increase taxes on income over $1 million and to become one of the first states to borrow billions to cover operating costs.
Tom Kean Jr. announces he won’t seek re-election to the state Senate. Is another try for Congress next?
Updated Feb 02, 2021;
Posted Feb 01, 2021
Former Gov. Tom Kean Sr. applauds as his son, state Sen. Tom Kean Jr., announces his candidacy for the U.S. House on April 16, 2019, in Clark.
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State Senate Minority Leader Tom Kean Jr., New Jersey’s highest-ranking Republican state lawmaker, announced Monday he will not seek re-election to the state Legislature this fall, two months after he narrowly lost an election for Congress.
The announcement immediately stirred speculation that Kean, the son of former Gov. Tom Kean, would try again to oust Rep. Tom Malinowski, D-7th Dist., in 2022. The 2020 race was so tight that both candidates began raising money for a possible recount before Kean conceded more than two weeks after Election Day.