Sarlo-Oroho NJ Transportation Trust Fund Plan Includes Income-Tax Deduction for Charitable Contributions

//Sarlo-Oroho NJ Transportation Trust Fund Plan Includes Income-Tax Deduction for Charitable Contributions

Sarlo-Oroho NJ Transportation Trust Fund Plan Includes Income-Tax Deduction for Charitable Contributions

The Sarlo-Oroho NJ Transportation Trust Fund Plan will not only provide much needed funding to the state’s nearly bankrupt TTF but it will also provide an income-tax deduction for charitable contributions.

“Right now, New Jersey does not permit taxpayers to take a deduction for charitable contributions, which is something that the federal government does allow. A measure backed by leading Republicans in the state Senate would create a new state income-tax deduction for contributions made to charities, but it would limit the tax break to contributions made only to charities based in New Jersey… The Sarlo-Oroho plan calls for a new charitable deduction category that would be further restricted to just social-service charities like homeless shelters and food banks…”

John Reitmeyer, NJ Spotlight

This is bipartisanship at its best – finding compromise and common ground for the greater good. Click here to read more about the Sarlo-Oroho TTF Plan and how it will rescue the nearly-bankrupt Transportation Trust Fund.
 
 

By |2016-06-16T18:27:49+00:00June 16th, 2016|Infrastructure|