The 2017 Tax Cuts and Jobs Act (TCJA) is set to expire after 2025, Save Jerseyans, and if Kamala Harris prevails in November, there’s no chance they’ll be re-upped.
What does that mean for you? And you family?
On Tuesday, the Trump campaign launched an online calculator utilizing data from the Tax Foundation to provide a state-by-state visual of what the end of the Trump tax cuts would mean for residents in every state, including New Jersey.
Garden State residents could expect an average per taxpayer increase of $2,647.
“[Joe Biden] wants to let our tax cuts expire,” Trump warned attendees at his spring 2024 beach rally in Wildwood, New Jersey. “Instead of a Biden tax hike, I’ll give you a Trump middle-class, upper-class, lower-class, business-class… big tax cut. You’re going to have the biggest tax cut.”
Everyone would pay more, red and blue state alike, ranging from just under $1,500 a head in Mississippi to $4,656 in Massachusetts.
Click here to try it for yourself.
New Jersey is already consistently among the most tax-battered states in the Union; a separate Tax Foundation report found the state had lost billions over the past two decades as residents took their wealth to lower-tax locales.