Lance to Murphy: Get Going On State-Level SALT Fix!

WASHINGTON, D.C. — Congressman Leonard Lance (NJ-07) put pen to paper this week, sending Governor Phil Murphy (D-N.J.) a formal letter requesting a repeal of New Jersey’s long-standing $10,000 property tax deduction limit on all state income tax filings. 

“Capping taxpayers’ deductions on SALT negatively and disproportionately affects New Jersey residents compared to residents from other states. Repealing on the $10,000 property tax deduction for state income tax filers would alleviate some of that newly increased financial burden,” Lance wrote. “I respectfully request your advocacy and support for legislation that would eliminate New Jersey’s $10,000 cap on deductions for property taxes on taxpayers’ state income tax returns.”

Governor Murphy renewed his push for his widely-panned SALT charitable contribution scam this week, one which the IRS and even some Democrats have dismissed as a fantasy.

Lance specifically cited the legislative effort of state Senator Joe Pennacchio (R-26) to repeal the $10,000 cap, one which Murphy and legislative Democrats have thus far ignored.

The Central Jersey Republican also opposed tax reform citing the new federal $10,000 cap, one which he says he’s continuing to work to expand.

He believes it shouldn’t be one or the other; state and federal government should be working in unison.

“Our State’s residents pay on average over $8,500 annually in property taxes, which is over 250% the national average,” Lance added. “I am confident that our combined efforts will bring tax relief to the citizens of New Jersey.”