The New Jersey Business & Industry Association has submitted a letter to New Jersey’s congressional delegation formally opposing the House of Representatives’ tax reform plan in its current form, while urging members to rework the proposed plan to bring more tax fairness to all of the state’s residents and businesses.
While encouraged by certain improvements in the tax reform plan released by the Senate last week that will help small businesses, NJBIA remains concerned about the current plans by both the House and Senate to eliminate state and local deductions.
“While we support tax reform and understand this process is dynamic and the net impacts of the plan are not fully determined, we are urging Congress to bring more fairness to small businesses and residents of New Jersey,” said NJBIA President and CEO Michele Siekerka. “The House bill, in its current form, falls well short of providing much-needed benefits for our small businesses.
“The elimination of state and local tax deductions will actually make our high-tax state even less affordable. We feel Congress can and should do better.”
To view NJBIA’s letter to New Jersey’s congressional delegation, visit here.
4 responses to “NJBIA Urges New Jersey’s Congressional Delegation to Bring Fairness to Federal Tax Reform”
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NJ sucks. It will be most hit by a tax because the state is downright stupid.
Why are there so many small stupid municipalities? I live in a town that is three, yes 3 square miles. Mr. Trump’s gold course is probable larger than my little town. Yet, I have to pay for this little town to have lots of big parasites. This is one place where the state REALLY sucks.
The two fools that ran for governor didn’t have the backbone to clean up the 500+ little sheikdoms that exist in the state. We are paying tons for the several hundred school districts and municipal offices in each town. In addition to all of the other necessities that a town needs.
How will I be able to afford to live in the state with such ludicrous property taxes when I retire? The increased tax burdon $3,500.00 some mention is nothing. Why are my property taxes over 12K and someone living in Nebraska not even paying 2K. Do me a favor and cut my awful property taxes. I don’t give a hoot about the Trump plan. The state sucks and it deserves to be hit.
I disagree with your letter to our congressional representatives. New Jerseynpoliticians should be reducing our tax burden the the elimination of the state and local taxes as a federal deduction would go away. Again self interest groups are looking out for themselves instead of the overall impacts. Simplfing the tax code will benefit 90 to 95% of taxpayer filing. You are in favor of the reduced tax rates but yet want to keep all the tax benefits that only benefit the few. Yes I am interested in the good for New Jersey but we created the problem by electing politicians who do nothing to help keep us here. Rather they are only interested in “giving” to social welfare programs that do nothing to help our economy. Trump is finally doing something that over the last 30 years no other politician would touch.
Although I truly believe that NJBIA is attempting to represent New Jersey business’ interests in this debate, I feel that any issues New Jersey is facing from this tax reform are self-inflicted and local in nature.
The resolution to these issues is not the proposed federal tax reform. NJBIA needs to prod Trenton, NJ county governments and NJ towns to cut back on their spendthrift ways instead of looking for relief from the Feds.
Why should the rest of the country not receive tax reform that will allow them to save money when the problem with taxes is within our own state of NJ? Government is corrupt and they abuse their power. Paving streets costs us more than anywhere in the country and so does everything else. Sanctuary status doesn’t help. More taxes to pay for those that pay no taxes. More schools, more everything else. I’m ready to move to a deep red state. I’ve had it with the nonsense in this state and Phil Murphy is a narcissistic disaster.