I’m gravely involved that tax reform efforts which are meant to ease the federal tax burden will as an alternative have the other impact for a lot of New Jerseyans.
Dropping the power to deduct property taxes and state revenue taxes might result in larger federal tax payments for a lot of of our working, house-proudly owning households.
The ache could also be particularly acute for households who’re pressured to itemize to reap the benefits of deductions for youngster care, mortgage curiosity, and medical bills. They gained’t see any profit in any respect from a proposed doubling of the usual deduction.
There are loads of potential advantages of federal tax reform that would result in financial progress throughout the nation. Our congressional delegation, nevertheless, should work to make sure that these advantages don’t come at New Jersey’s expense.
Sen. Christopher “Kip” Bateman
R-Somerset, Middlesex, Mercer, Hunterdon
sixteenth Legislative District
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