Frank Pallotta Vows to Oppose Any New Taxes if Elected

 

RAMSEY, N.J. – January 25, 2022 – Republican Congressional Candidate Frank Pallotta (N.J. – 5) vowed today to oppose any new taxes or tax increases if elected to Congress. In signing the Americans for Tax Reform Taxpayer Protection Pledge, he stated, “Living in the highest taxed region of our nation, I am generally wary of any new taxes, especially those taxes that serve special interests. We have the highest inflation in a generation with no solution, support, or guidance from our representatives in Washington. Now, more than ever, we must oppose anything that takes money from hard working residents and sends it to D.C.”

Mr. Pallotta not only signed the pledge but urged his primary opponents and the Democratic incumbent to join him. “Opposing new taxes or tax increases should be a no brainer for anyone of any party in New Jersey seeking public office. Unfortunately, it’s not,” said Mr. Pallotta. “It’s not enough to complain about taxes or say you are listening. It’s long past time to put your money where your mouth is. Oppose Nancy Pelosi’s reckless spending. And tell President Biden he needs to come up with a solution to our inflation and supply chain crisis. The lack of fiscal responsibility and leadership is disgraceful.”

Once elected, Mr. Pallotta, a businessman with real world economic experience will bring his private sector experience to the House of Representatives. “These career politicians have no idea what it’s like to really balance a budget or to make payroll. They just spend and spend as everyday Americans suffer and it’s time for a change.”

To date, Mr. Pallotta is the only candidate in the Fifth District to publicly state his opposition to new taxes by signing the Americans for Tax Reform pledge.

In addition, Mr. Pallotta signed a pledge to finally permanently repeal the “Death Tax” (also known as the Estate Tax). The Death Tax imposes taxes on inheritance that has already been taxed during the course of the deceased’s life. “It is inherently wrong to tax someone after they have passed when their money was already taxed during their lifetime. It places an unfair burden on all families impacted and threatens small businesses with onerous and unexpected costs when they are trying to save family companies while grieving a loved one.”

Congress made strides to restrict the tax in the 2018 tax reform legislation, but it did not go far enough, stifles jobs, and wreaks havoc on family-owned businesses. “Those who want to keep this tax in place, say it only impacts the wealthy, so it doesn’t matter. However, that is an arrogant, misinformed, and shortsighted viewpoint given the amount of jobs such family-owned businesses create, which are put in jeopardy by this tax,” Mr. Pallotta added. “If you cannot try someone for the same crime twice, it shouldn’t be legal to tax them twice either.”

“New Jersey is the highest taxed state in our nation. Wage increases have been wiped out due to inflation. Let’s try reducing burdens on taxpayers for a change,” Mr. Pallotta concluded.