NJPP STATEMENT on Changing State Property Tax Deduction
NEW JERSEY POLICY PERSPECTIVE PRESIDENT GORDON MacINNES:
“Changing the deductibility of local property taxes on New Jersey income taxes is not a sound response to the disaster that is the GOP tax plan. Here’s why: The GOP tax plan is actually just step one of a two-step scheme that will ultimately lead to New Jersey receiving even less federal dollars than it does today. With that on the horizon, and urgent unmet needs across the state, the last thing New Jersey policymakers ought to be doing is cutting state revenues by an additional $150 million or more a year.”
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