New Jersey lawmakers criticize Trump’s tax reform bill

<p>Several New Jersey lawmakers say that President Donald Trump&rsquo;s tax reform bill will hurt taxpayers in New Jersey.</p>

News 12 Staff

Nov 4, 2017, 12:25 AM

Updated 2,362 days ago

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Several New Jersey lawmakers say that President Donald Trump’s tax reform bill will hurt taxpayers in New Jersey.
The lawmakers gathered outside a Bloomfield resident’s home Friday and said that cutting state and local tax deductions will lead to a tax increase.
“It’s very likely that almost everyone on this street is going to be paying more,” said homeowner Peter Tom.
U.S. Sen. Cory Booker says that the bill targets New Jersey by cutting the state income and sales tax deductions and capping the property tax break.
“It’s an attack on our region and this area of the country, this state,” Booker said. “Everybody should be ticked off.”
Republicans are calling the bill a sweeping rewrite of the tax code that is pro-growth, with a corporate tax cut and savings for the middle class.
New Jersey lawmakers on both sides of the aisle say that New Jersey and other high-cost states won't save losing those deductions
Peter Tom says that he has lived in his Bloomfield home for 22 years. With the property tax decision capped at $10,000, he estimates his cost would go up by $500. He says that this is the case with the other neighbors on his street, after reviewing tax records.
Several New Jersey House Republicans have quickly come out against the bill, including Rep. Leonard Lance. Lance called the bill "unacceptable." Other Republicans have said that they have reservations about the bill.
Booker is calling on them to outright reject the bill.
“This is one of the greatest insults in legislation I have seen in my entire life,” Booker said. “We've got to fight against this.”
Several New Jersey lawmakers say that President Donald Trump’s tax reform bill will hurt taxpayers in New Jersey.
The Joint Committee on Taxation says that the bill will increase the federal deficit by $1.7 trillion over 10 years.


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