WASHINGTON, DC- New Jersey Congressman Chris Smith today vowed to vote no to President Donald Trump’s tax relief plan citing the elimination of property tax deductions which would impact New Jersey homeowners.
“While I believe Americans are overtaxed and need relief, I must vote “no” this week on the tax bill, H.R. 1, because of its negative impact on both New Jersey and my congressional district,” Smith said. “Almost half – 47% ‒ of the taxpayers in my district itemize, claiming an average of $31,981 in deductions. The elimination – even modification – of the state and local tax deduction (SALT) will significantly increase taxes for many. That’s unacceptable, and reason enough to oppose the legislation. Making matters worse are other provisions in the legislation that nullify or significantly scale back numerous well-crafted deductions including the medical deduction – utilized by 40,000 taxpayers in my district, largely the elderly and disabled, with an average deduction of $9,254 – as well as deductions for student loans, education, property damage, and mortgages, among others.”
The announcement came less than 24 hours after Trump’s daughter, Ivanka Trump met with Ocean County residents in Bayville to tout the tax reform plan with Congressman Tom MacArthur who represents the lower half of the county in Washington, DC.