(TRENTON) – Assemblyman John F. McKeon (D-Essex, Morris) issued the following statement Friday:
“The SALT cap is grossly unfair to taxpayers who live in the states with some of the highest property taxes in the country.
“We can’t reasonably expect homeowners to bear this burden alone without help from the municipalities in which they reside. The Governor and Legislature is right in their stand against the President’s administration and IRS’s move to block states from working to alleviate tax burden that will only increase under the new $10,000 tax cap.
“New Jersey homeowners and those in other states have worked hard to provide for their families. The SALT cap threatens the very foundation beneath them and asks more of residents than they should be required to provide. Residents deserve relief.”
McKeon is the prime sponsor of A-3499 which would authorize a municipality, county or school district to establish charitable funds for specific purposes; permits property tax credit for certain donations.