Press Release: Mikie Sherrill Applauds Multi-State Lawsuit Calling For State and Local Tax Deduction (SALT) Relief

Statement

Citing "the states' sovereign authority to make their own choices" to invest in their residents, this week the governments of New Jersey, New York, Connecticut and Maryland joined in a suit to void the provision of the 2017 federal tax law's that capped the state and local tax deduction at $10,000.

The New Jersey congressional delegation overwhelmingly voted against the tax bill in bipartisan opposition to tax increases. This is in stark contrast to Republican House candidate Assemblyman Jay Webber, who continues to support this tax hike bill. Democratic Candidate for New Jersey's 11th District Mikie Sherrill, a strong advocate for reinstating the SALT deduction, issued the following statement:

"While I did not support Governor Murphy and the state legislature's budget, I applaud the decision to stand up and fight to reinstate SALT. The congressional tax plan places an extra burden on families here in our community at a time when they face rising healthcare costs and worry if they will be able to afford their homes.

"When Congress decided to target our state by capping the state and local tax deduction, every member from North Jersey voted against the bill. Assemblyman Jay Webber should join me and stand with homeowners in our community and support this decision."

Moody's Analytics estimates that the tax plan will sink home values in the 11th Congressional District. In Essex County, that's a 10.5 percent decline, and all four counties are among the top 20 worst affected housing markets in the country.

Since 1861, the state and local tax deduction allowed residents across this country to lessen their tax burden. In 2015, taxpayers in the 11th Congressional District claimed an average SALT deduction of $20,124.

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