Congressman Leonard Lance

Representing the 7th District of New Jersey

Lance: Passage of the PATH Act Will Bring Stability and Certainty to our Economy

Dec 17, 2015
Press Release

WASHINGTON, D.C. --- Congressman Leonard Lance (NJ-07) today released the following statement after passage of H.R. 2029, the Protecting Americans from Tax Hikes (PATH) Act of 2015:

The PATH Act delivers important tax relief to millions of working families, small businesses and manufacturers by making a number of temporary tax provisions permanent.  The legislation would, among other things, postpone the onerous medical device tax for two years under Obamacare and make permanent the critical research and development tax credit — two key victories for New Jersey’s vibrant life sciences sector that employs thousands of Garden State residents and delivers billions of dollars to our state economy.  The bill also contains important bipartisan reforms to rein in the IRS and protect taxpayers from being targeted unfairly.  Passage of the PATH Act will bring stability and certainty to our economy and lays the groundwork for enacting comprehensive tax reform in 2016.”