NJ Chamber of Commerce President Tom Bracken's Statement on Murphy-Gottheimer Proposal to Alleviate Impact of Federal Tax Reform Legislation
The New Jersey Chamber of Commerce says bravo to Gov.-elect Phil Murphy and Rep. Josh Gottheimer for taking the lead in addressing the negative impact of the property tax deduction limitation mandated by the new federal tax reform law. Kudos also to state Senate President Steve Sweeney who we understand has endorsed their proposal.
While details of their proposed plan need to be finalized, these leaders have done New Jersey taxpayers a great service by proactively taking on this tough issue and helping reduce what would otherwise be a significant financial hardship for many of these taxpayers.
We urge state leaders from both parties to ensure this plan gets prompt consideration and that the steps required to implement it occur as soon as possible.