Assembly Majority Leader Louis Greenwald (D-Camden/Burlington) on Wednesday strongly condemned the final passage of the GOP’s tax plan (H.R. 1), which lowers corporate tax rates while hurting middle-class taxpayers in New Jersey:
“The Tom MacArthur-Donald Trump tax plan that has landed on the president’s desk will do nothing to help New Jersey working families while increasing the amount of New Jerseyans without health coverage. This is no victory for the American people. This will irresponsibly balloon the national deficit while also driving down property values throughout our state.
“New Jersey residents are being directly targeted by capping the State and Local Tax deduction at less than half of what an average Garden State taxpayer claims. By taking away important deductions for taxpayers who itemize their returns, the burden of taxes will be shifted to middle-class New Jerseyans who are just trying to make ends meet.”