Last week, along with the Governors of New York, Connecticut, Illinois, California, Oregon, and Hawaii, Governor Phil Murphy sent a letter to President Joe Biden urging the repeal of the State and Local Taxes (SALT) deductibility cap. Together, these states represent roughly a quarter of the United States population.
The League has long urged Congress to repeal SALT that was enacted by Congress in 2017 that results in double taxation for many New Jersey homeowners whose property taxes exceed $10,000 and could previously deduct the total amount of property taxes.
The League supports H.R. 946, the Stop the Attack on Local Taxpayers (SALT) Act introduced by Congressman Pascrell, and co-sponsored by 8 other members of the New Jersey delegation and eliminates the property tax deduction cap.
Full deductibility is vital to the long-term economic health of New Jersey. In 2017, the League passed Conference Resolution 2017-02, Urging Congress to Protect the Deductibility of State and Local Taxes and it has remained among the League’s Federal priorities since the cap was enacted in 2017 and the League adopted League Conference Resolution 2019-14 Urging Congress to Restore the Full Deductibility of State and Local Taxes.
Thank you if you are among the many municipalities that have passed a resolution in support of H.R. 946. If your municipality has not, please consider adopting the sample resolution, available in word or pdf, supporting H.R. 946.
Contact: Paul Penna, Legislative Analyst, email@example.com or 609-695-3481, ext. 110