Tax Relief Act of 2005

Good News! EVERY NJ Rep. Supports Conservation Tax Incentives and Signs Saxton Letter!

I'm pleased to report that every member of the NJ delegation has signed onto Rep. Saxton's Conservation Tax Incentives letter.

Rep. Saxton's staff worked with the NY/NJ Trail Conference to draft a NJ Delegation Letter to Ways and Means Committee Chairman Bill Thomas and Ranking Member Charles Rangel. The Senate had passed new tax incentives for conservation in the Tax Relief Act of 2005. The bill provides for extending the carry-forward period for tax deductions from 5 to 15 years and raising the cap on conservation deductions from 30 percent of a donor's income to 50 percent - and to 100 percent for farmers and ranchers. The House Ways and Means Committee will determine if these Senate provisions are included within the final tax reconciliation bill.

Whether or not these incentives actually make the cut and become law at this time, I'm confident the NJ delegation will continue to support this effort. We've come a long way this year. In late January, the Joint Committee on Taxation recommended the elimination of most tax deductions for conservation donations. If realized, this would have dealt NJ State and private land conservation efforts a serious blow. As you know, we are literally in a race against time, and additional tools such as enhanced tax incentives are desperately needed.

Over 400 Action Network members sent messages to their Representatives Please consider thanking your Representative for supporting Conservation Tax Incentives. You can send a quick thank you by visiting http://sierraactivist.org/contactofficials.php.

Thanks for your help, I'll continue to monitor issues, keep you informed, and give you the opportunity to speak out on this and other conservation efforts.

Dennis

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