Press Release: Assemblyman Jay Webber Backs a Tax Hike Bill With Bipartisan Opposition from Business Leaders, NJ Congressional Delegation, and New Jerseyans

Statement

In spite of bipartisan opposition to the congressional tax bill, Assemblyman Jay Webber continues to voice support for a plan that raises taxes on New Jersey families in the 11th District whose state and local tax deduction averages $20,124. The Assemblyman stands against leaders of the business community, the New Jersey Congressional Delegation, and the majority of New Jerseyans who recognize that the congressional tax plan does not represent real tax relief for New Jersey's middle-class and working families.

Mikie Sherrill said: "I oppose any tax hike on New Jersey families, and will continue to speak out whether those proposals come from Washington or Trenton. There are residents in the 11th District that will see their taxes go up and Assemblyman Jay Webber refuses to side with them. I'm running for Congress to bring fresh ideas to Washington and work with leaders on both sides of the aisle to get tax relief for our families. Assemblyman Webber is a rubber stamp for an agenda that New Jersey opposes."

Business leaders have outlined the economic impact the tax bill will have on New Jersey, focusing on the impact the plan has on home values, our tax burden, and our ability to attract business to our state to grow the economy:

The New Jersey Chamber of Commerce: "The full impact of the legislation will put New Jersey into the category of one of only three to six states that will "lose' after adoption. States with high income tax, high property tax and high real estate values will be hardest hit by the bill. New Jersey qualifies in all three categories . . . there is no question that it will exaggerate New Jersey's very real and significant problems of affordability, out-migration and business competitiveness."

Moody's Analytics: "No one gets creamed more than New Jersey from this tax bill," said Mark Zandi, chief economist for Moody's Analytics. Moody's forecasted a drop by 6.8 percent or more on home values in 15 of New Jersey's 21 counties.

When the House of Representatives voted on the tax bill, all but one member of the New Jersey Congressional Delegation joined together in opposing a plan that disproportionately harmed families in New Jersey:

Congressman Rodney Frelinghuysen (R)

Congressman Leonard Lance (R)

Congressman Frank LoBiondo (R)

Congressman Chris Smith (R)

Congresswoman Bonnie Watson Coleman (D)

Congressman Josh Gottheimer (D)

Congressman Donald Norcross (D)

Congressman Bill Pascrell, Jr. (D)

Congressman Frank Pallone (D)

Congressman Donald Payne, Jr. (D)

Congressman Albio Sires (D)

The Mikie Sherrill campaign continues to focus on bringing people together and fighting for what residents in New Jersey care about most: relief for their sky-high taxes, quality and affordable healthcare, and protections for Social Security and Medicare. More than half of residents in the 11th District take the state and local tax deduction and use it to lower their tax burden.

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