Mahwah's Frank Pallotta Exploring Running Against Rep. Gottheimer

MAHWAH, NJ — Frank Pallotta, a former mayoral candidate and Wall Street executive, is considering running against Rep. Josh Gottheimer in New Jersey's 5th Congressional District next year.

Pallotta, a veteran of Goldman Sachs and Morgan Stanley, said he wants to "hit the reset button" regarding the 5th District.

"I've been looking at this for the last month and a half and I think there is an opportunity here," said Pallotta. "The simple answer is that I think it is my time to give back. I was taught that when you have an opportunity to give back to others, you take it. This is my opportunity."

Pallotta retired from Morgan Stanley and Wall Street work in 2008. He does founded a startup program that helped homeowners avoid foreclosure. He does advisory work now and helps United States veterans transition from active duty to civilian life.

Pallotta complimented President Donald Trump on the work he has done to put more money back in Americans' pockets.

"The President seems to have made a good move putting money back into people's pockets, and that's played out when you see where the economy has picked up," Pallotta said. "But taxes are going up in New Jersey again, and we seem to be headed in the opposite direction."

Pallotta is a member of the township Planning Board and Environmental Commission. He has been married for 28 years and has two grown boys.

Pallotta briefly ran for mayor in a special mayoral election in 2018. He and two other candidates withdrew from the election in order to support Mayor John Roth's candidacy. (See related: Mahwah Mayoral Race Down To 2 After 3 Candidates Drop Out)

If he does decide to run, Pallotta would try to wrestle the district away from Rep. Josh Gottheimer, a Democrat from Wyckoff and keep him from winning a third term.

Gottheimer was first elected in 2016 when he defeated then-longtime incumbent Scott Garrett. He beat Republican John McCann, a powerful lawyer from Oakland, in 2018. (See related: Gottheimer Declared Winner In Close 5th District Race)

Gottheimer received endorsements in 2018 from the State Police and firefighters unions, and Garden State Equality, a LGBTQ rights organization.

Gottheimer has long touted his work of reaching across the political aisle to work with Republicans. He is co-chair of the Congressional Problem Solvers Caucus, a group of 48 congressional representatives that work together to come to a consensus on issues.

The 5th District includes parts of Bergen, Passaic, Sussex, and Warren counties. Most of the district's 647,000 residents, 75 percent, live in Bergen County.

Email: daniel.hubbard@patch.com