TRENTON, N.J. – The IRS formally put an end this week to blue state Democrat fantasies of a SALT cap workaround.
A leading New Jersey Republican legislator is calling on Governor Phil Murphy to embrace this wake-up call.
“Democrats need to stop making promises they can’t keep,” state Senator Joe Pennacchio (R-26) said on Wednesday. “There is a reason why we didn’t see scores of municipalities jump at the chance to take advantage of this scheme to get around the removal of the SALT cap. It was clear from the beginning that the IRS wouldn’t allow it, which is why I spoke out in opposition.
“If we really want to cut property taxes, then we need to pass the fiscal reforms necessary to get our State budget back on track – and stop trying to circumvent the federal government,” Pennacchio added. “Many have stated that New Jersey was hit especially hard by the SALT cap repeal, but our property tax crisis is years in the making. I hope that we can work together on a bipartisan basis to develop real solutions, instead of fighting with the federal government and giving our hardworking families false options and false hope. Let’s get to work and cut high taxes now.”