Sponsored Links
New Jersey has benefitted immensely since voters ousted incumbent Governor and Trump critic (or apologist, depending on his mood) Chris Christie.
OW-Advertisement
Today, their Democratic replacement took a huge step in combatting Trump’s disastrous tax bill, a move that has progressives around the country excited.
New Jersey Governor Phil Murphy signed legislation designed to circumvent the law’s $10,000 cap on the deduction for state and local taxes (SALT). The SALT cap came under firing during negotiations on the law in late 2017 as a deliberate attack on high-tax blue states like California and New Jersey.
Murphy’s addendum would allow taxpayers in New Jersey to contribute to funds set up by state localities. The taxpayers would they be able to claim a credit against their property taxes worth up to 90% of their contribution.
Sponsored Links
Sponsored Links
“Getting this right is one of our administration’s most important tasks in creating a stronger and fairer New Jersey,” Murphy said in a statement.
New Jersey follows in its neighbor’s footsteps, as New York enacted a similar measure over a month ago. presumably in a desperate bid for an otherwise stagnant Cuomo to win back the voters he continues to lose to his impressively progressive opponent Cynthia Nixon.
Sponsored Links
Unfortunately for both states, the IRS has yet to acknowledge such arrangements and it remains unclear if they will recognize the measures in the long run.
Still, it’s refreshing to see lawmakers, whatever the motivation, fight back against Trump’s heinous law which would line his pockets if he paid any taxes in the first place.
Let’s just hope these measures work so that more states can follow suit.
Follow Salvatore on Twitter and Instagram.
