Brianne TalockaJun 18, 2018, 8:17 pmJun 19, 2018, 3:01 pm

Sen. Menendez, Booker warn of effect of GOP tax plan on NJ homeowners

Menendez claims that 40 percent of the people living in New Jersey will face a higher property tax burden

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SPRINGFIELD — Sens. Bob Menendez and Cory Booker say that the Republican tax plan passed in 2017 is going to hit homeowners in New Jersey hardest of all.

"It raids the pockets and futures of middle-class families, just to line the pockets and futures of wealthy CEOs," Menendez said

Last month, Gov. Phil Murphy signed a law that would allow homeowners who make charitable contributions to get property tax credit, but the Internal Revenue Service has announced that it wants to forbid New Jersey residents from claiming those deductions on their federal tax returns.

Menendez also said that homeowners who prepaid their 2018 property taxes in 2017 may not be able to fully deduct them, meaning they would be taxed twice on the same dollar.

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